SFS

SICO Funds Services Company

Licensed by the Central Bank of Bahrain, SICO Funds Services Company (SFS) is a leading regional provider of sophisticated and integrated custody and fund administration solutions, with a proven track record of over 10 years in the custody business.

SFS is a wholly-owned subsidiary of Securities & Investment Company (SICO), a leading regional provider of investment banking services, including asset management, corporate finance and brokerage. SFS was incorporated in 2004 by spinning off SICO’s custody unit to create an independent, specialised custody and fund administration house.

The utilisation of advanced technology tools, processes, and delivery platforms enables SFS to offer a unique and flexible service, which is designed to streamline the day-to-day management of investment funds and portfolios, thereby allowing clients to focus on their core business activities.

The Firm’s team of dedicated and experienced professionals, operating through a select network of local sub-custodians and preferred financial institutions, provides clients with a seamless, professional service that corresponds to their varying requirements.

While benefiting from the solid foundation and mature market presence of SICO, the operations and services of SFS are totally independent and fully segregated from its parent company. The Firm’s relationship with SICO as a broker and asset manager is conducted strictly on an arm’s length basis.

The core solutions provided by SFS cover all aspects of custody and fund administration, including registrar functions and customised reporting services, supported by an independent, value-added research capability.

Custody

SFS provides a wide-ranging custodian solution covering both collective investment schemes and private portfolios, in line with regional regulatory requirements. Covering the entire life cycle of the investment, this solution comprises the following services:

  • Safeekeeping of assets
  • Custody of legal documents
  • Preparation of custody statements
  • Opening and management of bank accounts
  • Reconciliation of accounts
  • Settlement of investment transactions and expenses
  • Processing benefits such as dividends, bonus shares and rights offerings
  • Provision of regular market updates
  • Generation of customised reports

Fund Administration

SFS provides a comprehensive fund administration solution that helps to streamline the day-to-day management of investment funds and portfolios. Covering all necessary bookkeeping and reporting activities, this solution comprises the following services:

  • Perform multi-currency fund accounting
  • Maintain principal books and records
  • Verify adherence to fund/portfolio guidelines
  • Monitor the investments of each fund in accordance to the fund prospectus
  • Compute and report NAV for funds
  • Produce complete financial statements
  • Coordinate internal and external audits
  • Monitor regulatory compliance such as anti-money laundering
  • Generate customised reports

Registrar

SFS provides a detailed fund registrar service that constitutes a critical element of the Firm’s fund administration solution. This service covers the following functions: 

  • Processing investment applications
  • Maintaining register of unit holders
  • Safeguarding originals of subscription agreements
  • Issuing certificates as requested
  • Processing transfers, subscriptions and redemptions
  • Managing income distribution
  • Providing information to external auditors as required
  • Generating regular reports of the register

Reporting

SFS provides a high quality reporting service that meets clients’ requirements for both format and frequency, in order to enhance their decision-making. The reports generated by SFS are distinguished by the following features:

  • A fully automated process – from extraction of data, modeling and formatting, to delivery by fax or email  minimises the possibility of human error
  • A customisable platform enables SFS to generate customised reports that meet clients’ specific information needs and preferences

SICO Funds Services Company BSC (c)
PO Box 20233
Diplomatic Area
Manama
Kingdom of Bahrain
Telephone: (+973) 17 516 060
Facsimile: (+973) 17 531 777
E-mail: custody@sicobahrain.com
www.sicobahrain.com

Management Team

Sreenivasan Konnat
General Manager
Direct line: (+973) 17 516 066
E-mail: sreenivasan.k@sicobahrain.com