AFA offers cash management solutions in conjunction with several industry leading banks, whereby escrow accounts are established in a fund’s name to facilitate the receipt of subscription proceeds from investors prior to transfer into the fund’s Prime Broker or Custodian trading account. Upon receipt of subscription documentation and incoming proceeds, AFA conducts its due diligence on both the source of funds and the Investor, including required AML and KYC analysis.
Once the AML due diligence process has been completed, the subscription proceeds are wired into the fund’s trading account. This process is conducted on a same-day basis, causing no delay for the fund manager in trading the incoming capital while ensuring that proper due diligence is carried out. The same process pertains for any redemption from a fund to ensure that the redemption proceeds are returned to the investor’s account from which they were initially subscribed, thereby following required AML procedures.