1. Responsible Entity
A Responsible Entity has the most important role in relation to our funds. All eInvest funds must have a Responsible Entity that holds an Australian Financial Services Licence and ensures compliance with all legal and regulatory requirements. It also oversees reporting, financial accounting and administrative activities in relation to the operation of the relevant fund.
Amongst other things, the roles of the Responsible Entity must:
- Act honestly
- Exercise a reasonable degree of care and diligence
- Act in the best interest of investors; and
- Treat all investors equally
The Responsible Entity for our eInvest partnered funds is Perennial Investment Management Limited (PIML).
2. Fund Manager
eInvest partners with fund managers to provide you good quality solutions for your investment needs. Please see each fund for the information you might need on the underlying manager.
To ensure that independence is kept, the Responsible Entity of eInvest funds outsources the administration of its funds to Mainstream Fund Administration Services. Mainstream independently calculates the Net Asset Value of the fund, prepares the financial reports and calculates distributions for the Responsible Entity. They are an important part of ensuring the Responsible Entity provides you with accurate information.
The custodian’s important role is to hold the assets in safekeeping from the Responsible Entity for the benefit of all investors. This is required by law. The Responsible Entity’s custodian is NAB Asset Servicing, a subsidiary of the National Australia Bank.
5. Market Maker
Put simply, market makers provide much needed liquidity to ETFs and Active ETFs when traded on the stock market. They work with the Responsible Entity to create and redeem units to keep ETFs and Active ETFs priced fairly.
In the main, market makers are generally invisible to you and your financial adviser or broker.
Just so that you know, the market maker for eInvest Funds is Macquarie Securities Australia, a subsidiary of Macquarie Bank and Deutsche Bank.
The Responsible Entity of eInvest funds use Link Market Services as our Registry. You might know them if you already own some shares. They have the very important task in maintaining your investment records. They hold a record of the number of units in the Fund you have, will outline the distributions, send out statements to you and assist you with any questions you might have on your holdings with us.
All the entities outlined above are discussed in much more detail in the fund’s PDS. Feel free to take a read.