Custodian
City Pacific Limited holds Australian Financial Services Licence (AFSL) No 230025.
As permitted by and pursuant to its AFSL, City Pacific Limited provides a self-custodial role for its registered managed investment schemes (Funds):
- City Pacific First Mortgage Fund
- City Pacific Income Fund
- City Pacific Private Fund
- City Pacific Managed Fund
To assist with meeting its regulatory obligations and to maintain segregation of staff and assets, City Pacific engages the services of Financial Services Consulting Pty Ltd (FSC) to administer the internal self-custody services for the Funds.
The founding Director of FSC is a former Australian Securities and Investments Commission senior investigator and has extensive experience in the areas of compliance and corporate governance in funds management.
The responsibilities of the custodian include:
- to receive all monies subscribed
- to act as custodian of all cash and investments of the Funds, including holding title documents relating to the underlying securities
- to act on the instructions of City Pacific and its authorised personnel
- to assist in the distribution of the income to investors
- to use all due diligence and vigilance in carrying out its duties
