Private investors´ interest in closed funds has increased significantly in the recent past. Such funds are seen as interesting alternative investments due to the fact they offer investors access to alternative asset classes. The investor needs to carefully monitor the performance of the fund if such an investment is to be successful in the longterm. In addition, the investment company requires the investor to make decisions on an ongoing basis. This results in many investors being confronted with a range of decisions and commitments, which can be exacting and can even become confusing. WSH Fund Administration provides services to private investors, who have opted for closed funds but for whom the ongoing monitoring of their holding is no longer manageable.

In the light of the ever increasingly complex nature of the closed funds and the volume of correspondence relating to the funds, WSH can, on behalf of client, take on the following:

• The processing of all paperwork related to being involved in a fund or funds.
• Present complex legal, tax and economic issues in an understandable manner.
• Continuously check the development of the fund, assess the situation and inform the client about appropriate measures.
• Assist in the decision making and if necessary represent the interests of the client.

Apart from a comprehensive yearly report, the WSH Fund Administration team monitors the investment on an ongoing basis. The team is available to provide clear and concise information and or offer assistance in relation to each and every issue relating to the fund. On request, the team also handles all correspondence with the fund.

Fund Report

The fund report provides our clients with a quick but comprehensive overview of the historical and expected development of the holding. Apart from details about the investment itself and the status of the investment, a comparison of the predicted and actual income generated and the tax implications is included in the report.

The client is also provided with an assessment of the performance of each individual holding. Using our colour-coded presentation system, it is easy to recognise which funds are performing in line with the predictions in the original prospectus.

The report also provides a comprehensive report on the return on investment and the current price on the grey market.

The fund report is updated daily and is made available to clients at least once a year along with a summary of the annual report. If required, the client can receive updates more frequently.

Business transactions

The core business of the WSH Fund Controlling is offering support to clients in relation to all business transactions effected in the fund and handling the relevant correspondence. The nature and extent of the reporting offered is tailored to suit the requirements of the individual clients.

Annual report

Investors receive an annual report from the Holding company at least once a year. WHS checks the report, prepares a concise summary for the client, indicates potential irregularities or discrepancies and alerts the investor to critical issues in the report.

Annual General Meeting / Voting rights

Prior to AGMs or similar corporate events, WSH assesses the situation on behalf of the client, lists possible measures and makes concrete suggestions regarding voting. WSH deals with all of the formalities on behalf of the client.

WSH represents clients at their request at Annual General Meetings or similar events.

Dividend reports

The dividend reports issued by the fund are summarised by our team and a comparison is made to indicate the actual and predicted payments. If there are discrepancies in this regard, we explain these and if necessary, make contact with the fund in relation to these discrepancies.

Tax reports

Certificates detailing tax remitted are analysed, checked and if a client so wishes, passed on directly to the client´s tax advisor.

Miscellaneous

In addition to the points mentioned above, the WSH Fund Controlling monitors each and every transaction relating to the fund and keeps the client updated thereby providing a basis for the client´s decision making.

Correspondence

WSH Fund Administration offers a service whereby the client can use the WSH office as a mailing address for all correspondence relating to the fund. Based on the specific requirements of the client, each corporate event will be noted and the client informed. All correspondence relating to the fund will then be stored for the entire investment term.

Fund Appraisal

WSH can, if requested by a client, carry out a detailed analysis of an investment offer from a fund. The basis for such analyses depends on the individual circumstances and requirements of a given client. The extent of such an analysis can range from a simple prospectus check to a site visit and a comprehensive meeting with the fund promoter.

Legal assistance

WSH can, in case of irregularities during the operational phase of a fund, which result in material loss for the investor, investigate whether malpractice, be it relating to the fund promoter, the management of the fund or other officers of the fund, is an issue. WSH can also check whether damages may be sought.

If in a case of malpractice no amicable agreement is reached, WSH represents the interests of their clients in court using its network of legal advisors.