Contact Us: +44 (0) 131 603 7020

email: info@ncmfundservices.com

NEWS

DATA - NCM affiliate membership

Tuesday, May 19, 2015

NCM Depositary Services Limited is delighted to confirm it is  an affiliate member of  The Depositary and Trustee Association (DATA).  DATA was formed in 1999 and represents the industry views of depositaries of open-ended investment companies (OEICs), Authorised Contractual Schemes (ACS) and trustees of unit trusts within the UK.  Affiliate members are  depositaries and trustees who act for funds other than UK Authorised Funds.

 

DATA’s prime objective is to promote, support, oppose or propose changes in the relevant UK and EU legislation, in respect of the responsibilities of members of the Association and to promote and support the development of the depositary and unit trust trustee industry in the UK.  In addition, DATA undertakes to promote and support research, and to co-ordinate and support initiatives for the future growth of the industry.

 

http://www.datasoc.co.uk/about/data-members.html

Social Investment Scotland - NEW FUND

Tuesday, May 19, 2015

NCM are delighted to be working with Social Investment Scotland (“SIS”) on a new pioneering fund which aims to provide a social, as well as a financial, return on investment.  This fund is sponsored and advised by SIS - Scotland’s leading community development finance institution.  As the first social investment tax relief fund available in Scotland, SIS Community Capital will allow individuals to invest in a fund which provides tax relief, whilst supporting the growth of social enterprises generating sustainable social and environmental impacts.

NCM's 5th Birthday - Jaco van Gass

Tuesday, February 17, 2015

NCM celebrated 5 years of business with a gathering of clients and friends in the office on 4 February to listen to an inspiring talk from Jaco van Gass.  Jaco is an injured soldier who lost his left arm and a large amount of muscle from his left leg in an RPG attack in Afghanistan.  Since his injury, he has walked to the North Pole unsupported, climbed Manaslu (8th highest peak in the world), Mt McKinley (highest mountain in North America) and been most of the way up Everest.  He has also won 2 golds at the recent Invictus Games and is now an elite cyclist training for the Paralympics in Rio in 2016.  Jaco is extremely inspirational, like many of the soldiers involved with Walking With The Wounded. 

 

 

 

 

 

Part time Fund Accountant - NEW OPPORTUNITY

Friday, January 16, 2015

NCM Fund Services are looking for an outgoing qualified accountant who can take the lead on a number of NCM’s high profile clients and deliver a high level of service to these clients.  See job description below.  Please email a cover letter and CV if you are interested in this role.

 

NCM_Part_Time_Accounting_Resource_12-01-15

 

Council set to spearhead solar scheme for residential homeowners

Monday, December 08, 2014

NCM act as regulated operator for a pioneering new scheme which will offer owners of residential homes in Peterborough the chance to have solar panels installed on their properties.  The proposal is being considered by Peterborough City Council: cabinet members will be asked to approve the council entering into partnership with social enterprise Empower Community Management LLP, to deliver solar panels on private properties in the city at a meeting on Monday 15 December 2014.

 

See link for more details.

Council_set_to_spearhead_solar_scheme_for_residential_homeowners

 

 

 

 

NCM celebrates its 5th birthday!

Monday, December 01, 2014

NCM_5th_birthday_for_website

HEARTHSTONE ANNOUNCES HOUSING FUND FOR SCOTLAND

Monday, November 17, 2014

HEARTHSTONE ANNOUNCES HOUSING FUND FOR SCOTLAND WITH FALKIRK COUNCIL PENSION FUND AS CORNERSTONE £30M INVESTOR

 

NCM are delighted to be working with Hearthstone Investments, the specialist residential property fund manager, who have won a £30m investment mandate from Falkirk Council Pension Fund to invest in social and affordable housing within Scotland.  The investment will form the first stage of a new Housing Fund for Scotland, managed by NCM and Hearthstone. NCM will carry out all fund administration activities.

 

The fund is the first of its kind and allows pension funds to invest in local housing infrastructure, adding to the supply of new homes and supporting local economies.  Investors in the fund will benefit from stable, long-term returns associated with residential property, matching the typical investment objectives of many pension funds.

  

The Housing Fund for Scotland will invest in social housing via fixed rate corporate bonds issued to registered social landlords of appropriate credit standing.  Affordable housing will be delivered via the purchase of properties from major developers seeking to meet section 75 planning obligations.  These properties will then be let to a Housing Association on an operating lease for an initial period of ten years.  The mixture of investment between social and affordable housing will flex to ensure that overall returns from the fund stay within a pre-defined range.

 

FATCA

Thursday, August 28, 2014

The Foreign Account Tax Compliance Act (“FATCA”) took effect on the 1 July 2014.  It was introduced by the US government to identify US taxpayers who hold accounts with foreign financial institutions (“FFI”).  All such FFIs must register with the Internal Revenue Service (“IRS”) and identify which of their account holders, if any, are US taxpayers and report on this.  The UK signed an Inter-Governmental Agreement with the IRS providing a mechanism for FFIs to comply with their obligations, where relevant information is presented to HMRC who will then pass it on to the IRS.  The idea is that it will be a reciprocal agreement so that the UK will also receive information on any UK taxpayer who holds accounts in America.

 

What do you need to do?  Well, NCM are here to help and will discuss any requirements with you but ultimately you need to register any FFI with the IRS to obtain a Global Intermediary Identification Number (“GIIN”) and then ensure that annual checks are carried out on all account holders to see if they are, or become, a Specified Person (broadly speaking a US resident, citizen, partnership or corporation).  Annual reporting to HMRC is also required even if it is only to confirm that there are no Specified Persons.  An account holder that is an entity will need to be assessed to see if there are any controlling persons who could be deemed Specified Persons.  There are different requirements that need to be considered if the entity existed pre and post 1 July 2014.

 

Initial checks will flag if an account holder may be a Specified Person and this will lead to additional information being requested.  NCM can liaise and set up systems to keep track of account holders and can also register your FFI for its GIIN and keep the reporting requirements up to date.  Registration for your FFI’s GIIN needs to be completed before the end of the year.  Please call 0131 603 7020 or email to see how we can help!

Peterborough Social Impact Bond - First Results

Friday, August 08, 2014

NCM is delighted to relay that one of the Social Bond funds it acts as regulated operator for has announced that it has reduced reoffending by 8.4% and that investors are on track to receive payments in 2016.

Please see the article attached.

NCM Depositary Services

Wednesday, July 09, 2014

On 9 July 2014 the FCA approved NCM Depositary Services Limited to act as a depositary "light" as provided for in the recent Alternative Investment Fund Managers Directive (AIFMD).

The services to be provided include:
  •  the safeguarding of fund assets;
  •  the monitoring and reconciling cash flows; and
  •  overseeing the conduct of the fund manager

We would be very happy to speak to you or any contacts you know of who would potentially require the depositary function so please do get in touch if you would like to discuss further.