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Unit Trust System

The Protégé UTS comprises of back and middle office functions, which encapsulates the workflow of client services, operations, custody services, accounts and the financial advisory groups for the purpose of purchase and redemption of unit trusts. Other functions include distribution of dividends, corporate actions, regular savings schemes, and asset allocation.

Back office functions include fund accounting and fund administration. Fund accounting covers security pricing, general ledger bookkeeping, NAV calculation, and daily, monthly and ad hoc reporting.

Middle office functions include custody services -- broadly defined, it encapsulates trade matching and confirmation which involves establishing interfaces and maintaining links between brokers and custodians. It can cover cash flow forecasting and cash position (trust accounting) reporting.

Features Vs Benefits

	Custodian Bank / Service Provider	Independent Financial Advisory Firm (Broker)	Client
Purchase / redemption	The custodian bank or service provider can fulfill the order on behalf of his client / broker.	The financial broker can process the order through the web and can use this application in conjunction with the Portfolio Management System	Client can directly buy / sell unit trusts from the portal.
Trade fulfillment / confirmation	The custodian receives the confirmation report from the fund houses. Updates the trade status.	Brokers can monitor their clients' accounts and view the status of each trade.	Monitors the trade from his end.
Transfer In / Out of assets.	The custodian bank can transfer assets (upon receiving instructions from the client) from one broker to another.	The financial advisor can consolidate client's assets bought from different financial institutions, such that he (the FA) can provide a more comprehensive portfolio management service.	The client can transfer his assets from one financial institution to another.
General Ledger Accounting	Track AR / AP of all accounts.	Track accounts receivables from clients and accounts payable to fund houses.	Statement of accounts.
Trust Accounting (optional)	Track cash positions of clients.	Track cash positions and compliance issues before trade.	Track cash positions.
Reporting	N.A	Generate monthly, yearly and ad hoc reports for their clients.	Monthly, yearly and ad hoc reports.
Compliance	Maintain proper audit trail of all transactions.	Able to view accounts and processes.	Assured that investments are handled in accordance with regulatory requirements and best industry practices.
Dividends	Dividend payouts are managed more efficiently. It is either credited to the cash account or used to buy more units.	Receives updates on dividend payments.	Receives updates on dividend payments.
Fund Termination / Merger	Account consolidation when funds are terminated or merged.	NA	Fully aware of the actions taken
Regular Savings Plan	Able to pool accounts to provide regular savings plan for clients.	NA	Wider range of investment options.
Campaigns / Promotions	Can create own campaign and track progress more effectively.	Can pass trailer fees as discounts to clients.	Gets more discounts and incentives.