December 2011

AFG standard RFI questionnaire

Asset management company

Asset management company:
Sales contact:
Position
E-mail
Phone number
Fax number
Address
Web site

1

I - General information about the company

A.  Description of the company (and its activities)

1 / Name
2 / Legal form
3 / Foundation Date
4 / Registration number (RCS)
5 / Main location
6 / Other locations
7 / Licensed activities
8 / Regulator
9 / Number and date of registration

B.  Positioning and strategy of the management company

10 / §  Present the investment philosophy adopted by the company
11 / §  Describe the strengths of the company (specialisations/expertises/ flagship strategies/etc)
12 / §  Provide a brief history of the company
13 / §  Explain the sustainability commitments that have been taken by the company

C.  Assets under management[1]

§  Breakdown of AUM by asset class[2]:

N(T-1)[3] / N-1 / N-2 / N-3
Number of portfolios (funds+ mandates+ compartments) / AUM (million euros) / Number of portfolios (funds+ mandates+ compartments) / AUM (million euros) / Number of portfolios (funds+ mandates+ compartments) / AUM (million euros) / Number of portfolios (funds+ mandates+ compartments) / AUM (million euros)
14 / Equity
15 / Fixed income
16 / Money market
17 / Balanced
18 / Alternative
19 / Others (provide details)
20 / Total

§  Breakdown of AUM by type of client

N(T-1)1 / N-1 / N-2 / N-3
21 / Corporate including corporate saving plans
22 / Multimanagers, structurers (Banks and financial institutions)
23 / Institutions (Insurance, pension funds, foundations…)
24 / Individuals (distribution and networks)/IFA/Private banks
25 / Others (provide details)
26 / Total AUM (million euros)

§  Breakdown of AUM by geographic area[4]:

N(T-1)[5] / N-1 / N-2 / N-3
27 / USA / Canada
28 / Eurozone
29 / Europe ex. Eurozone
30 / Asia/Pacific
31 / Global
32 / Total AUM (million euros)
33 / Emerging

D.  Capital structure of the company/Financial data

34 / §  Main shareholder(s)
35 / §  Describe any significant changes in the capital structure over the past 5 years.
36 / §  Indicate whether the company (or the group) is listed. If yes, specify where.

§  Description of financial data or business development plan if the asset management company has existed for less than 3 years.

Shareholders equity / Debt[6] / Turnover / Net income
37 / Year N-1
38 / Year N-2
39 / Year N-3

E.  Rating and certification

40 / §  Provide the credit rating of the parent company (if applicable).
41 / §  Specify the rating of the management company and the rating agency
42 / §  Provide the certifications obtained by the management company (GIPS, SAS 70, ISAE3402...)

F.  Professional civil liability insurance (PCL)

43 / §  Indicate the insurance company, when existing.
44 / §  Specify the nature of the PCL, when existing.
45 / §  Specify the maturity date.

G.  Certification of accounts

46 / §  Provide the names of the management company’s auditors.
47 / §  Report if the company has changed auditors over the past 3 years. If yes, specify the reason.

H.  Organisation and Human Resources

48 / §  Present the organisation chart of the management company and identify senior managers.
49 / §  Provide the resume of key people: the management board (COMEX) + head of investment strategies.
50 / §  Provide the resume of the head of research and the head of risk control.

§  Total staff at 31/12/xxxx by functions (if available):

Position / Management company employees
Year N-1 / Year N-2 / Year N-3
51 / Total[7]:
52 / Portfolio managers
53 / Research and analysts
54 / Traders
55 / Risk control
56 / Compliance
57 / Legal
58 / Middle Office (transaction processing and holdings)
59 / Reporting and Performance
60 / Back office – Fund administration
61 / Marketing and Development/Sales/Client service/Communication
62 / IT and Organisation
63 / Human Resources/Facilities
64 / Finance (accounting and management reporting)
65 / Periodic control/audit
66 / Others

I.  Organisation and IT architecture security

67 / §  Briefly describe IT organisation and security.

J.  Business Continuity Plan (BCP)

68 / §  Briefly describe your Business continuity plan
69 / §  Specify how frequently it is tested

K.  Main partners/providers for infrastructure and control activities

70 / §  List the functions/services that are outsourced.
71 / §  Provide details of your third-party providers

II – Investment team

A.  Organisational structure

72 / §  Please present the investment management teams’ organisational chart (with the staff number of each team where appropriate)

B.  Breakdown of dedicated investment management staff

73 / §  Additional comments on the number of investment management employees (for example, by function - fund managers, asset allocation research, financial analysts, credit analysts, SRI analysts, traders - by type of management, by asset class ...)
74 / §  Provide details of the main changes over the last 3 years (change of CIO, recruitment / creation of new teams, turnover of management teams ...).

C.  Management organisation

75 / §  Provide the name and the role of Chief Investment Officer (CIO)
76 / §  Describe the role of investment committees.
77 / §  Describe the investment process (if it is unique) or a reference framework of the main investment processes.

D.  Compensation structure for investment professionals

78 / §  Describe the policy implemented to retain the key people (cf. questions 49 and 50 if necessary).
79 / §  Detail the method of compensation of fund managers and analysts.

E.  Organisation of research department(s)

80 / §  Describe the tasks carried out by the research department
81 / §  Detail means.

F.  Voting policy

82 / §  Describe the proxy voting policy.

G.  Trading Organisation

83 / §  Describe the trading organization and systems.
84 / §  Describe your best execution and fair allocation procedures.
85 / §  Specify the criteria used for broker selection.
86 / §  Does the company use CSAs (commission sharing agreements)?

III – Risk and compliance

A.  Organisation

87 / Please provide the organisation chart for the risk and compliance departments. How independent are they from portfolio management teams?
88 / §  Staff breakdown (market risks, compliance, operational risk)
89 / §  Team heads resumes
90 / §  Risk management policy
91 / §  Risk committee description
92 / §  Incident processing and monitoring

B.  Risk management

93 / §  Please describe the risk management department’s roles and tasks (by type of risk).
94 / §  Please describe the main indicators and systems used to monitor risk (ratio monitoring, market risks, operational risks)
95 / §  How often are risks controlled on portfolios?
96 / §  Please describe the interaction between risk management and portfolio managers
97 / §  Please present escalation procedure

C.  Compliance, internal control and internal audit

98 / §  Please describe organisation and roles of compliance, internal control and the internal audit teams
99 / §  Has the firm been sentenced by any regulatory body over the last 3 years?
100 / §  Please describe procedures to ensure compliance with the rules of professional conduct by employees (monitoring, statement control, personal transactions follow-up).
101 / §  Specify whether parts of these functions are outsourced.
102 / §  Please list the lawsuits brought by legal entities that have led to definitive condemnation over the last 3 years.
103 / §  Please describe the rules concerning anti-laundering and their application
104 / §  Please describe the rules concerning late trading and market timing
105 / §  Does the company organize regular compliance training for its employees? Has the company a code of ethics?
106 / §  Describe conflict of interest policy (department in charge, mapping, mitigating measures…)

IV - Administration and Middle-Office

107 / §  Please describe your middle-office and back-office organisation, tasks and systems.
108 / §  Please provide the name of your administrator/valuation agent(s).
109 / §  Please indicate name(s) / address(es) of your firm’s custodian(s).
110 / §  Please provide a flow chart showing relations between the asset management company, the custodian and the administrator/valuation agent.
111 / §  Please describe control procedures for outsourced services (i.e. valuation agents / custodians / etc.)

V - Reporting and client service

112 / §  Please describe the reporting and client service organisation, systems and team.
113 / §  Please describe your capacity to customize such reports (i.e. Solvency II, integration of investors’ constraints, etc.)
114 / §  Please describe the different types of reports available.

Links to documents

§  Link to company presentation documents

o  http://www.

o  Login/password if necessary

1

[1] Avoid master-feeder double counting to assess AUM.

[2] Asset classes represent the investment universe of the portfolio.

[3] Provide the data as at the end of last quarter, when available.

[4] Describe breakdown methodology (strategy of the portfolio management, issuer nationality, place of listing…).

[5] Provide last quarterly data, when existing.

[6] Bank loans, partners’ current accounts, notes and other debt not related to current operations.

[7]Specify main employment contracts.