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16 October 2005
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Depository Services for Equity Funds

VABank, a player on private equity funds (PEFs) and mutual funds market since 1994, provides services of net assets appraisal and securities registration and custody under the license by the Ukrainian Ministry of Finance No. 16 of 10th June 1994 for depository services to equity funds and investment companies and the license No. 30-3 of 17th May 2000 for securities depository services.

Depository services for PEFs and investment companies could be retained from our Depository Division located at 21 Dehtiarivska Street, Kyiv 04119, Ukraine.

Depository Services for Private Equity Funds:

  • opening asset accounts for PEFs;
  • PEF assets custody;
  • PEF assets flow accounting;
  • in coordination with a Fund Investment Manager, appraisal of the Fund’s net assets and processing statements to the Securities and Stock Market State Committee (SSMSC);
  • processing account balance statements and activity reports;
  • custody of documentary securities at the Bank depository;
  • Custodian services in respect of securities (including investment certificates) transfer into book entry form and their further turnover as electronic account entries; servicing further transactions with such securities;
  • in coordination with a Fund Investment Manager, amortisation of liabilities to the PEF participants in the event of its reorganisation or liquidation.

List of Documents Required to Open a PEF Account:

  1. application executed by the PEF Investment Manager (in the Custodian’s form);
  2. securities account questionnaire executed by the PEF Investment Manager (in the Custodian’s form);
  3. a copy of PEF Incorporation Certificate and an extract from the Uniform Register of Enterprises and Organisations, both instruments notarised or certified by the issuing authority;
  4. statement of tax-payer’s identity code, Form 4-OPP (copy signed and sealed by the Fund’s or the Fund Investment Manager’s CEO);
  5. sealed and notarised Fund CEO’s and Chief Accountant’s signature card (in the Custodian’s form);
  6. extract from the Fund Bylaws defining scope of authority of its CEO (copy signed by CEO and sealed);
  7. instruments of appointment of PEF officers: orders of appointment, minutes of respective PEF Shareholders’ Assemblies, minutes of respective meetings of the Fund’s governing body (copies signed by CEO and sealed);
  8. list of PEF founders and affiliated entities;
  9. a copy of investment declaration and statements of issue of investment certificates signed by Fund CEO and sealed.

Documents to be Submitted by Fund Investment Manager:

  1. copy of the respective investment management contract verified by the Investment Manager;
  2. notarised Managers’ signature card executed by the Investment Manager’s CEO and sealed (in the Custodian’s form);
  3. Investment Manager’s powers of attorney to account managers, signed by CEO and sealed;
  4. permit for professional activities in issuing and negotiating securities (a copy signed by CEO and sealed);
  5. Incorporation Certificate (copy signed by CEO and sealed);
  6. for investment company’s mutual fund: a copy of Articles of Mutual Fund certified by the Investment Manager’s CEO;
  7. powers of attorney to persons authorised to submit documents to the Custodian and receive Custodian’s reports;
  8. agreement to open a securities account executed by the PEF Investment Manager (in the Custodian’s form).

Rates for PEF Depository Services

1.1. Opening an off-balance account: - UAH 40
1.2. Account service charge (monthly): - UAH 40
1.3. Custody of securities and instruments confirming titles to securities at the account
(based on aggregate par value of the securities in custody):

- 0,001% monthly
1.4. Account transactions:
- credit, debit and transfer transactions at a PEF off-balance account
- UAH 10 per transaction
1.5. Custody of documentary securities or their certificates - by arrangement
1.6. Issuing account balance and transactions information upon depositor’s request - UAH 10 and more per document
1.7. Disbursement of dividends (transfer of revenue) on securities - by arrangement
1.8. Change of depositor’s bank details - UAH 10 per transaction
1.9. Appraisal of PEF net assets (under a deposit agreement) - UAH 250 per transaction
1.10.

Services to depositors under deposit agreements (delivery of documents, information exchange)

  • courier mail costs

  • long-distance telephone calls





- UAH 2 + expenses incurred
- UAH 1+ expenses incurred

Note: rates quoted are VAT exclusive. Services are quoted in the local currency as of the first day of the month following the reported period.


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    VABank (1 gramme) 
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