PKO Finat provides services which comprise keeping accounts for open investment funds and closed investment funds. Within the framework of this service, PKO Finat manages currency funds, funds offering many classes of units, as well as umbrella funds with separate sub-funds.
We perform our tasks with the use of cutting-edge technologies, equipment and solutions. We pay a lot of attention to our employees professional development, both in the field of employed technologies and expansion of business knowledge.
We ensure security of data which are entrusted to us and archive daily operations in electronic and paper form. In particular, we carefully handle adjustments and other emergency operations. We keep records related to personal data protection, e.g. we implement detailed procedures relating to data access protection.
The scope of accounting services we offer includes:
Keeping accounts and valuating fund's assets, as well as determining operation's result
Accounts of a fund are kept in accordance with applicable accounting standards. Assets of and liabilities of the fund are determined according to applicable provisions of law, find's statutes and accounting policy received in conformity with procedures for conveying accounting data agreed between PKO Finat, the Customer and entities engaged in providing services to the fund.
Keeping accounts includes above all:
- comprehensive bookkeeping services provided to the fund (keeping the ledger and subsidiary ledgers)
- records of transactions concluded by the fund
- records of all determined stocks, costs and proceeds of the fund
- records of valuation of components of the investment portfolio
- records of financial settlements of the fund
Calculation of net asset value (NAV) and of NAV per unit of account or investment certificate
PKO Finat is prepared to valuate assets and net assets of a fund as often as the Customer wishes it to be done, taking requirements stipulated in the statutes and in provisions of law into consideration.
Our services comprise the calculation of net asset value and of net asset value per different types/series of units of account or investment certificates in the case of the management of funds with many classes of units or series of investment certificates.
Reconciliation of asset value, net asset value and of net asset value per unit of account/investment certificate agreed with the depository bank
While providing accounting services to funds, PKO Finat consults with the Depositary Bank the state of accounts which constitute the basis for calculation NAV and NAV per unit of account or investment certificate to the extent and at dates determined in the fund's statutes and at other dates individually agreed within the framework of cooperation procedures.
Control of investment limits
Within the framework of provided services, PKO Finat verifies whether fund's investment policy is adjusted to investment limits stipulated in provisions of law and in the fund's Statutes. If necessary, Finat provides the Customer with data/reports necessary to prepare information for the Polish Financial Supervision Authority.
Supervision of fund's financial settlements
Our services include:
- Confirming all transactions concluded between the fund and the depository bank, as well as qualifying them to a given valuation date,
- Supervising timely and correct transaction settlements concluded in capital and money markets,
- Preparing and conveying - at dates agreed individually with the customer - cash flows of the fund,
- Making, on Customer's behalf, payments of liabilities and performing other transfers of monetary means from find's accounts,
- Verifying securities and cash account balances,
- Conducting settlements with Revenue Offices, including elaboration of tax returns, in the scope agreed in principles of cooperation.
This service includes elaboration for TFI of current reports for every valuation date, comprising in particular the following information:
- Comparison of the state of fund's accounts
- Comparison of quantity and value of components of the fund's investment portfolio
- Information about the net asset value and the net asset value per unit of account or investment certificate
- Information about investment limits
Dates for transfer and detailed scope of other reports concerning the fund's activity elaborated for the Investment Funds Company are to be agreed.
Within the framework of reporting, PKO Finat prepares:
- Quarterly, semi-annual and annual financial statements of the fund in the form required by provisions of law and by the Polish Financial Supervision Authority.
- Financial statements elaborated for the National Bank of Poland.
- Keeps a transaction register required under appropriate provisions of law.
Making fund's accounts available for purposes of audit or control
In the event of a necessity to audit or control by the Customer, Auditor or other Body authorised the audit fund's books, PKO Finat makes it possible to access the books as soon as possible after a notification about the planned audit or control.
Within the framework of this service, PKO Finat offers constant cooperation with a statutory auditor ready to help in a periodic review/audit of books and in elaborating financial statements of the fund.