The administrator acts as an intermediary between the fund’s managers and investors and provides an additional layer of protection to investors. The administrator’s functions include accounting and bookkeeping services, as well as registrar services required with the fund’s operations, such as recordkeeping, processing of subscription and redemption requests and maintenance of the shareholder register. The administrator further calculates the Net Asset Value (“NAV”) of the fund portfolio on a daily basis, hence it is easier for investors to monitor the fund.

Every UCITS must appoint a single and independent depositary that will be acting as the custodian of the fund’s assets. The depositary must have the necessary mechanisms to protect the property of the fund under its custody and forbid the use for its own account or for the benefit of third parties, also maintaining an up-to-date record of all assets. It shall also monitor cash flow regarding investors and service providers, ensuring the fund’s cash flows are booked at eligible entities and are accurately monitored. Furthermore, the depositary shall execute oversight functions ensuring compliance with the fund’s rules and instruments of incorporation, valuation procedures and compliance with the applicable laws and regulations. The Depositary is either a Cypriot bank or a foreign bank maintaining an active branch in Cyprus, or any other entity which is entitled under its operation license to provide Depositary services. However, safekeeping duties may be subcontracted to a foreign licensed custodian acting as sub-custodian.