The following activities relating to the management and administration of a fund must take place at the Foreign Principal Office of the fund, or at another office outside of the United States:
- All communication with shareholders, including provision of monthly statements of accounts, investment reports, annual financial statements and all other reports, financial or otherwise.
- Communicating with the general public.
- Soliciting sales of shares of or subscriptions into the Fund.
- Accepting and processing subscriptions from shareholders.
- Maintaining both the corporate records and books of account of the Fund.
- Auditing the Fund's books of account.
- Distributing payment of dividends, fees and expenses, including legal, accounting management and investment advisory fees, as well as payment of salaries and other expenses of the Fund.
- Publishing the Fund's share prices, whether at the net asset value per share, or the bid (redemption) and offer (subscription) prices.
- Holding board (directors) and shareholders' (members) meetings.
- Accepting redemption notices from shareholders and effecting the redemption of the Fund's shares for such shareholders.
Excerpted from: Custom House Asset Management Limited, Dublin, Ireland
Offshore alternatives must be considered by all investors. The stakes are too high. However, most US investors do not consider the concept of offshore banking whereas their European counterparts routinely invest with offshore vehicles. There are many reasons why the US investor doesn't utilize offshore solutions, but in today's interconnected financial landscape those reasons are without merit.
