Comptroller services are sub-divided into Asset and Liability Comptroller services. The main activities inherent to each are described below.
Asset Comptroller: (i) provision of expenses of funds and portfolios, according to information received from the fund/club’s administrator or client;(ii) administration of cash entries regarding payment of expenses of funds/clubs or portfolios, such as auditing fees, CVM verification fee, administration fee, etc.; (iii) attribution of prices to assets and securities held by funds/clubs or portfolios according to the methodology defined and auditable under Itaú Unibanco’s Pricing Manual, properly registered with ANBIMA (“Pricing”); (iv) calculation of net equity; (viii) calculation of share value (*); (v) generation of accounting information for funds/clubs and portfolios; and (vi) reports including updated asset, cash and share positions.
Liability Comptroller (only applicable to funds/clubs): (i) presentation of a system that executes registration and maintenance of the shareholder’s registry information; (ii) control of individual positions and history of shareholder transactions; (iii) settlement upon events of amortization of fund shares; (iv) settlement upon events of share issuance and redemption; (v) process events such as, but not limited to, breakup, incorporation and closure of funds; (vi) process events of transformation and dissolution of clubs ; (vii) update shareholder balances; (viii) tax calculation, retention and payment; (ix) send notices, newsletters and statements to shareholders; (x) legalization of obligations applicable to shares, according to instructions given by the administrator of the funds/clubs; (xi) conciliation of credits produced by financial transactions of shareholders with the current accounts of their respective funds/clubs; (xii) presentation of information and compliance with orders from judicial authorities, regulators, depositary institutions; and (xiii) generation of accounting information for funds/clubs.
Accounting (only applicable to funds/clubs): (i) execute daily accounting entries related to information received from asset and liability comptrollers; (ii) produce financial statements and make them available for publication; (iii) bookkeep and reflect in accounting statements events such as breakup, incorporation and closure; (iv) conciliate accounting statements with information received from asset and liability comptrollers, as well as maintain proof documents; (v) payment of applicable taxes and fees; and (vi) service to external and internal auditors and regulators.
Note. 1: The abovementioned activities are listed in the ANBIMA Code of Qualified Services and are subject to changes if a new edition of the ANBIMA Code of Qualified Services is published.
