Services for Investment companies

KAS BANK is a European specialist provider of securities services that is of Dutch origin with over 200 years’ of experience. We are an expert within the securities industry and our services cover all aspects required by the market and supervisory institutions.

  • Custody
    • Contractual settlement
    • Income collection & redemptions
    • Corporate Actions
    • Tax reclaim
    • Proxy voting
  • Institutional Risk Management
    • Transition management
    • Compliance monitoring
    • Asset rebalancing
    • Passive duration overlay
    • Performance measurement
    • Return calculation and attribution analysis
    • Liability index and strategic risk
    • Regulatory reporting
  • Added revenue
    • Securities lending
    • Commission recapture
  • Added value
    • Fund accounting
    • Fund administration
  • Treasury services
    • FX spot
    • Cash management
  • KAS-Web
    • Instructing
    • Reporting

Custody

KAS BANK offers custody, clearing and settlement services across the globe. Most importantly, we have established direct connections to all the major European markets and to NYSE, Dubai and Hong Kong. KAS BANK is a European custodian with global reach. We strive continuously to expand our network, to offer our clients an efficient, cost-effective service that meets all their investment requirements.

We reconcile all external securities positions with our own records, ensuring that your assets benefit from maximum protection.

Our capability covers the administration of more complex alternative investments, such as hedge funds, derivatives and structured vehicles.

Institutional Risk Management

With a view of the entire fund, KAS BANK is ideally placed to assess each stage of the investment process, monitor your exposure to risk and provide detailed analysis of your returns. Furthermore, as a neutral specialist, KAS BANK is uniquely able to monitor asset manager activity, free of conflicting business interests.

KAS BANK’s integrated platform and direct connections to the global securities infrastructure allow us to mitigate operational and investment risks. We will also oversee timely and accurate reporting to regulators and supervisory institutions.

Added revenue

Added value

Treasury services

KAS BANK offers fully bespoke, consolidated cash management and FX solutions, that link seamlessly with our comprehensive custody and settlement services. Our KAS TT treasury tool will enable you to regulate your cash flows and effortlessly execute FX spot, forward and swap transactions.

The experienced staff on our trading desks is always on hand to assist you in executing FX transactions, financing debit balances and ensuring that any surplus generates maximum interest.

KAS-Web

KAS Web is our secure, flexible internet portal for exchanging real-time information on all your cash and securities accounts at KAS BANK.

KAS Web’s key features include:

Real-time account information, available 24/7
A fully customisable interface
Comprehensive management information
State-of-the-art security
An extensive reporting capability

Contractual settlement

KAS BANK offers a contractual settlement service in all the major markets, guaranteeing that trades will settle on the contracted date. Advantages of contractual settlement:

Guaranteed settlement date for cash transfer
Lower cost and greater controll of your account balances
Timely conclusion of FX-contracts reduces your exposure to foreign exchange risk

Income collection & redemptions

The efficient, accurate and timely collection of income accruing from your investments is a core element of our custody service.

Key features:

Notification of all dividend and coupon payments and bond redemptions
Monitoring and reports of outstanding income
Verification and cross-checking of information from multiple sources
Online monitoring of payment status
Contractual income service in the all the major markets

Corporate Actions

KAS BANK processes corporate actions in all markets. We will ensure that you receive pertinent information as soon as it becomes available, and will warn you immediately should you be required to make a decision, or in the event that we have not received an instruction. You will be able to follow the status of relevant corporate actions at all times, and can set up continuous instructions for optimum efficiency.

Tax reclaim

KAS BANK will relieve you of laborious and protracted tax exemption and reclaim procedures, reducing the burden on your time and resources. Wherever possible, we will provide relief at source.

A dedicated tax reclaim department will operate on your behalf, with country specialists continuously monitoring all relevant tax and treaty documentation. You will be kept fully abreast of developments in the tax arena, and will be advised of the status of each reclamation in our monthly reports.

KAS BANK is almost unique in offering contractual tax reclamation in the major continental European markets. In these markets, KAS BANK will take responsibility for recovering tax and you will be guaranteed to receive the net dividend and recoverable tax on the due date.

Proxy voting

Our proxy voting service allows you to vote globally, on all shareholders’ meetings.

Online access to our proxy voting service provides

Details of future shareholder meetings and information relating to past events
Capacity to exercise varied voting preferences
Insight into restrictions and guidelines in each market
Detailed updates of proxy voting news
Reminders in the event that a voting instruction is not received
Real-time status overviews and comprehensive voting archive
Overview of changes in share positions
Electronic voting capability in all countries in which we keep securities on your behalf

Transition management

KAS BANK’s transition arrangements are designed to achieve seamless migration and optimal continuity of service for our new clients. Each transition is individually project-managed by a specialist team. As with all our services, the process will be tailored to meet your specific requirements, according to the complexity of your portfolio. This approach enables you to make changes to the composition of your portfolio during the transition process.

Compliance monitoring

We offer a comprehensive compliance and governance monitoring service that enables us to supervise post-trade, pre-settlement breaches of stipulated investment guidelines and notify clients and/or their investment managers. This service is available at both the individual portfolio and total fund level, and follows naturally from the clearing of settlements undertaken by KAS BANK.

Asset rebalancing

Markets are dynamic, constantly rising and falling in relation to your investment objectives. Therefore, the proportions you have allocated to specific asset classes may over time fall out of sync with your initial intentions. KAS BANK will monitor your investments and, depending on your requirements, rebalance them to ensure that allocations fully comply with your investment guidelines. You can determine the frequency of our intervention, and leave the rest to us.

Passive duration overlay

As part of our Institutional Risk Management (IRM) services, we can monitor the duration of your fixed-income portfolios and calculate any mismatch between your assets and liabilities. KAS BANK can provide a passive overlay structure to minimise this mismatch, in line with the degree to which you wish to hedge your interest rate risk.

Performance measurement

Since we do not actively trade or manage assets, we are an ideal partner to measure the performance of your external asset managers. KAS BANK can deliver tailor-made reports on a monthly basis, drawing on a wide range of benchmarks and major indices, ensuring an accurate and impartial reflection of the status of your investments. Based on these valuations, we will calculate returns in accordance with the internationally acknowledged GIPS/AIMR guidelines.
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Return calculation and attribution analysis

Calculation of the return of your internally and externally managed portfolios
Aggregation of, and insight into, your entire portfolio
Comparison to benchmarks on individual security and total portfolio level
Attribution analysis on individual security and total portfolio level. At stock level, we analyse the returns and weights of individual stocks by comparing them to the selected index. We analyse fixed-income values based on curve, duration, sector, bond and currency securities
Our reports are designed to complement your investment policy. We will compare our return calculations with those of your internal and external asset managers, ensuring complete accuracy and reliability

Liability index and strategic risk

In order to ensure that the returns from your investments exceed your liabilities, we can provide a liability index to calculate your obligations. This index comprises:

A cash flow profile (pension contributions minus pension payments)
Conditional indexing (whether or not included in the net pension cash flow profile)
Premium loading in conformity with the market (whether or not included in the net cash flow profile
The interest term structure

This liability index is an important tool in determining the pension fund’s strategic risk.

Regulatory reporting

More complex legislation and regulations require increasingly refined control measures. We will take care of the prescribed periodical reports to the supervisory institutions, which will relieve you from considerable administrative efforts and the need to continuously adapt your administrative systems.

Securities lending

KAS BANK has been at the forefront of securities lending since 1983. Our programmes provide a bespoke, flexible service designed to maximise returns and mitigate risk. KAS BANK offers principal and agency lending across 25 major markets worldwide and in most asset classes. Where guaranteed levels of alpha are required, we can manage securities lending auctions. This is a cost-effective way to ensure the best possible returns on your holdings.

Commission recapture

This service simply and effectively lowers the cost of securities transactions, by recovering the research component of the brokerage fee where possible, and thereby increasing the returns on your investments. An extensive roster of global brokers participate in the KAS BANK commission recapture programme, allowing you to minimise costs without affecting the range of brokers available to your external asset managers.

Fund accounting

KAS BANK's accounting division provides a fully functional, multi-currency solution for institutional investors. Extensive coverage includes all asset classes, including derivatives, swaps and private equity. With a separate pricing feed to our custody system, we can provide an independent third-party check on your activity. Frequency of reports can be adjusted to suit your needs – daily, weekly or monthly. Report presentation is fully customisable and can be delivered via KAS Web, email or hard copy.

Fund administration

Outsourcing your fund administration to KAS BANK will help you to achieve low costs and maximum returns. We will administer accessions and retirements, and monitor positions per participant, leaving you free to focus on your core activities.

FX spot

KAS BANK provides a first-rate FX service distinguished by complete transparency. Our FX desk offers a full foreign exchange trading facility and supports swaps, currency options, repos and sale/buy back trades. Should you require a fully bespoke solution, our Special Products department will be able to oblige.

KAS BANK clients also have access to KAS TT, a browser-based single-bank platform connected directly to KAS BANK’s dealing room. The system offers clients the choice between executing FX deals themselves, or routing them through the KAS BANK trading desk.

Cash management

Regulate your FX and cash positions in an easy and effective manner. Make your surplus more profitable by using the options for the short (call) and longer term (deposit). Interest-rate swaps, options, repos, special products and complete FX support form a complete package of possibilities. You will either trade through KAS TT yourself or you will contact our Money Market Desk.

Instructing

KAS Web facilitates rapid instruction for cash transfers, settlements and corporate actions. For optimum speed, you will not be required to re-enter details of recurring counterparties, and may choose the most appropriate authorisation facility to achieve maximum efficiency. (You can separate booker and controller and assign an internal security administrator, for example.)

Reporting

KAS-Web provides:

real time statements on your cash, securities and derivatives positions
settlement status and clearing obligations
extensive search function
printable statements and graphic management reports
sector news and documentation
virtual two-year archive