Orion started providing depositary service for funds managed by Modus Asset Management
Orion Securities has signed a depositary services agreement for funds managed by Modus Asset Management: Modus Remote Solar Fund I, Modus Poland Solar Fund I and Modus Renewable Lithuanian Investments.
Modus Asset Management manages 3 alternative closed-end investment funds intended for informed or professional investors who invest in renewable energy projects in Lithuania and Poland. The amount of liabilities of the investors of these funds already exceeds 70 million euros.
Orion Securities started providing depositary services from October 1, 2021 and today acts as the depository of 11 collective investment entities (funds, investment companies) registered in Lithuania, which are managed by 3 management companies.
Jolita Jonaitienė | „Orion“ Head of depositary
The essential function of the depositary is to protect fund investors’ investments and their interests and to ensure that the fund manager acts fairly towards all fund investors. Depositary functions and services include:
– Safekeeping/control of financial instruments;
– Ownership Verification and record keeping;
– Ensuring the fair value of net assets;
– Transaction monitoring;
– Oversight duties;
– Control over the issue and redemption of units/shares;
– Cash flow monitoring.
Related articles:
– „Orion Securities“ teiks depozitoriumo paslaugą
