Administration Services

Compliance (1)

Regulatory Compliance:

  • Monitor compliance with the 1940 Act requirements, including:
    • Asset diversification tests
    • Total return and SEC yield calculations
    • Maintenance of books and records under Rule 31a-3
    • Code of Ethics for the Trustees and Officers of the Trust
  • Monitor Fund's compliance with the policies and investment limitations of the Trust as set forth in its current prospectus (the “Prospectus”) and statement of additional information (the “SAI”)
  • Monitor affiliated transactions under exemptive rules (17a-7, 17e-1, etc.)
  • Maintain awareness of applicable regulatory and operational service issues and recommend dispositions
  • Assist and provide Funds’ CCO with documents, as required

Blue Sky Compliance:

  • Prepare and file with the appropriate state securities authorities, any and all required compliance filings relating to the registration of the securities of the Trust so as to enable the Trust to make a continuous offering of its shares in all states
  • Monitor status and maintain registrations in each state
  • Provide information regarding material developments in state securities regulation

IRS Compliance:

  • Monitor the Trust’s status as a regulated investment company under Subchapter M, including without limitation, review of the following:
    • Asset diversification requirements
    • Qualifying income requirements
    • Distribution requirements
  • Calculate required distributions (including excise tax distributions)

(1) For our multiple series trusts, these services are shared with UMB Fund Services, our co-sponsor of the trusts.

SEC Registration and Reporting:

  • Assist Fund counsel in updating the Prospectus and SAI and in preparing proxy statements
  • Prepare annual and semi-annual reports and Form N-CEN filings
  • Coordinate the printing, filing and mailing of publicly disseminated Prospectuses and shareholder reports
  • File fidelity bond under Rule 17g-1
  • File certified reports under Section 302 of the Sarbanes-Oxley Act of 2002 on Form N-CSR, Form N-Q and Form N-PORT
  • Monitor sales of each Fund’s shares to ensure that such shares are properly registered with the SEC and the appropriate state authorities
  • Prepare and file Rule 24f-2 notices
  • Assist in coordination of filing proxy voting on Form N-PX