Global Fund Services

RBC Wealth Management

Who we areRBC Wealth Management’s Global

Fund Services team is a leading

provider of third party fund

administration, global custody

and custodian trustee services.

Our clients cover a wide variety

of investment strategies from

traditional long only to alternative

asset classes, including private

equity, venture capital, real estate

and funds of hedge funds.

Our range of fund services are

complemented by the enhanced

solutions that are available through

RBC’s global network, including

treasury, credit, banking, taxation,

wealth management, employee

benefit and capital market services.

Global reach and offshore excellenceOur portfolio of global clients

is serviced from our centres

of excellence in the Bahamas,

Barbados, the Cayman Islands,

Guernsey, Hong Kong and Jersey.

Benefits of our office locations

include geographical proximity to

some of the world’s largest financial

centres; a highly skilled workforce;

a solid regulatory framework; and

a proven history of servicing the

international funds market.

A leader with solid foundationsRBC Wealth Management is a

division of Canada’s largest bank,

Royal Bank of Canada (RBC).

Canada is consistently recognised

as a country with one of the world’s

safest banking systems, and RBC as

one of the world’s safest financial

institutions. Financially robust and

stable, RBC consistently maintains

a strong balance sheet and an

excellent credit rating.

Award winning serviceOur teams work closely with our

clients to provide a personal and

flexible service. Our clients range

from individuals, family offices and

Our extensive industry experience and leading edge technology enables us

to provide a full and tailored service. We focus on your objectives and work

with you to develop practical solutions, suitable for the most complex and

innovative structures - our emphasis on first class delivery sets us apart.

small boutique fund managers, to

some of the world’s largest financial

institutions. In recent times, RBC

Wealth Management has gained

a number of industry awards in

recognition of our dedicated,

specialist service offering.

Our servicesFund administration and custody

is the core of our business. We are

able to offer both select and end-

to-end services for all sizes of fund

structure.

We offer the following fund services:

- Fund administration;

- Global custody;

- Custodian trustee;

- Fiduciary services;

- Banking, credit and treasury

management including escrow

services.

Global Fund Services

1

We stand out

Specialist services for a diverse client base

We work closely with our international client base to

provide personal and flexible solutions.

We are adept at dealing with all types of fund structures,

including limited partnerships, companies, cell

companies, unit trusts and umbrella funds.

Whatever your requirements, your RBC Wealth

Management relationship team can provide seamless

access to a complete range of services for your structure.

We are committed to ongoing investment into our

technology platform to ensure that we can support our

clients’ requirements both now and in the future.

2

An outsourcing partner you can trust

A safe place for your assets Fund administration

Global custody

Outsourcing the administration of your fund to a

professional administrator is an ideal way both to

streamline your internal services, enabling you to

focus on maximising the fund assets, and to benefit

from specialist administrators and systems.

With RBC Wealth Management, you have direct access

to accounting and administration experience, systems

and procedures. Our services can be tailored to suit

your requirements and we structure our fees to ensure

that you only pay for the resources you require - a high

quality, cost effective alternative to in-house back office

operations.

We offer a comprehensive fund administration

service and we are well versed in the establishment

and administration of funds which are domiciled in

numerous jurisdictions.

RBC Wealth Management understands the importance

of mitigating risk, improving competitiveness and the

benefit gained from increased operational efficiencies.

With more than 30 years’ experience, we provide global

custody services to leading global fund sponsors and

investment managers and have been recognised as one

of the world’s leading offshore custodians. With us, you

have the peace of mind that your assets are safe and

secure.

Our global custody services are ideal for fund promoters

that are considering a start-up or exchange listing or

reviewing existing service providers; new businesses

that want to enjoy the efficiencies of using a single, full-

service offshore provider; and investment managers.

We offer a comprehensive fund administration service

covering a wide range of investment strategies, funds

structures and jurisdictions.

5

How we can help - Client and investor relationship management;

- Ongoing data management, accounting and reporting;

- Fund valuations and Net Asset Value calculations;

- Director services;

- Corporate secretarial services;

- Regulatory compliance and anti-money laundering

services;

- Exchange listing support;

- Transaction processing;

- Banking services;

- Credit;

- Online services.

How we can help - Execution and fulfillment of trades in alternative

investments on behalf of investment managers,

on a non commission basis;

- Fully segregated private/institutional client capital

and income reporting and valuation (also available

for alternative investments);

- Prompt handling and collection of all trade settlement

and investment income to meet cash flow requirements;

- Provision of interest-bearing accounts and fixed term

deposits in any major currency;

- Contractual settlement date accounting to meet cash

management and foreign exchange needs;

- Accurate reports and valuations for client portfolios;

- Trade settlement in 80 of the world’s markets through

a single point of contact;

- In addition, we offer access to other services such as

forward foreign exchange, bridge financing and treasury

management;

- Processing an estimated 450 trades a month, our

proprietary hedge fund dealing system, UTMOST,

is capable of providing clients and fund promoters with

a full trade status report;

- Online services.

Integrity in everything we doCustodian trustee services

Fiduciary services

Our team understands the importance of protecting

the integrity of your investments. If you are a fund

promoter, you can benefit from a timely and tailored

oversight service based on industry-leading regulatory

models. Our team ensures compliance with fund

documentation, scheme particulars and the regulatory

requirements of various regulatory bodies.

We offer expertise in the operational requirements of

most types of collective investment scheme structures

(companies, limited partnerships and unit trusts),

both closed-ended and open-ended, as well as the

following types of investment vehicles:

- Traditional long only equities and bonds;

- Hedge funds;

- Fund of hedge funds;

- Property funds;

- Private equity and venture capital funds.

RBC Wealth Management has earned a reputation

as one of the world’s leading providers of trusts and

other estate planning solutions. We offer clients a

truly unique level of service, combining a tailored and

independent approach to trusteeship with the strength

and full service capability of one of the world’s finest

financial institutions.

We work with our clients to ensure fund assets

are kept securely and serviced properly, manage

schemes in accordance with local regulations and

protect investors’ interests. To this end, we operate

a standardised oversight approach, utilising ‘best of

breed’ regulatory models, on an ongoing basis.

We are also able to provide senior members of our

team to act as directors of funds (general partners and

companies) and special purpose vehicles.

6

How we can help - Asset safeguarding;

- Representing and protecting the interests of the

investors;

- Creating and cancelling units or shares;

- Maintaining the register of investors;

- Ensuring fund management is in accordance with

relevant laws, regulations and the fund’s scheme

particulars;

- Provision of a detailed Compliance Monitoring Program

for all funds under our custody and administration;

- Comprehensive fiduciary oversight.

How we can help

Day to day fiduciary oversight:

- Reviewing trade suitability;

- Monitoring cancellation and/or creation letters and

associated flows of cash;

- Reconciling units and/or shares in issue each

dealing day;

- Reviewing valuations to ensure investment and

borrowing restrictions are not breached;

- Ensuring fund assets held in trust reconcile with the

fund manager’s valuation;

- Approving the fund’s fees, expenses and distributions

to shareholders (if applicable).

Periodic reviews and annual fiduciary oversight:

- Reviewing fund documentation during launch and

any revisions;

- Maintenance of ‘Breaches Registers’, including pricing

errors and any investment or other breaches;

- Annual review and sign-off on the report and accounts,

including reporting on the conduct of the fund manager;

- Implementation and monitoring of a Service Level

Agreement with the fund manager;

- Risk based review of the fund manager’s procedures

and calculation methodology;

- Review of the dealing and registration system, including

KYC and source of client monies;

- Liaison with regulators, promoters and other fund

service providers.

Specialist. Experienced. Professional.

Our peopleGlobal markets require global

understanding. We pride ourselves

on the calibre and technical

expertise of our people, and the

quality of service we deliver. Highly

skilled and motivated, with a wealth

of best practice knowledge, our

team includes highly experienced

specialist accountants, fiduciary

trust professionals, as well as direct

access to legal, chartered secretarial

and expertise from other disciplines.

Client firstFrom internal practices and

procedures to client service, our

first priority is to service our clients’

needs.

98

Providing access to unrivalled expertise

Your relationship team will provide

a consistent, dedicated link to the

specialists both within our team and

elsewhere within the RBC global

network. Our solutions adapt and

develop as your objectives and

requirements evolve and we work

with you and your advisers to ensure

that relevant legislative, regulatory

and market practice considerations

are monitored and observed.

From start to finish, you and your

investors will receive a responsive

and proactive service. We recognise

that being commercial and flexible

is key to achieving the best possible

results. All this adds up to a special

client experience, underpinned by

the reassurance of an established,

reputable organisation.

A wealth of expertise

Your wealthRBC Wealth Management offers

clients an award winning range

of onshore and offshore wealth

management solutions, backed by

the strength and stability of RBC.

The RBC network provides a comprehensive range of wealth management, employee benefit and investment

banking services that can protect and add value to your client and fund portfolio and make your corporate

and fund assets work harder.

All RBC solutions are continually adapted to take account of economic and regulatory developments,

as well as individual requirements.

For more information, please visit www.rbcwealthmanagement.com.

Your employeesRBC Corporate Employee &

Executive Services (RBC cees)

is a leading provider of employee

benefit trustee and administration

services. We offer a personalised,

flexible service, working closely

with you to define your needs, and

adapting our processes wherever

possible to provide the best support

and solutions for your organisation

and employees.

Your businessRBC Capital Markets is a premier

investment bank that provides a

focused set of products and services

to corporations, institutional

investors, and governments

around the world. With over 6,500

professionals, we operate out of

70 offices in 15 countries and

deliver our products and services

through operations across North

America, the U.K. and Europe, and

Asia-Pacific.

However, clients should always remember that the value of investments may fall as well as rise.

You may not get back the full amount that you originally invested.

There is wealth in our approach

11

How we can help - Banking;

- Credit;

- Carried interest structures;

- Retirement, trust and estate

planning;

- Investment advisory services;

- Structured solutions;

- Advisory/brokerage;

- Custody;

- Tax advice.

How we can help - Partnership incentive plans;

- Co-investment schemes;

- Carried interest planning;

- Bonus deferral plans;

- Share plans;

- Executive pension plans;

- Savings plans;

- Personal pension and savings

plans.

How we can help - M&A, sales, privatisations,

capital reorganisations and

restructuring;

- Corporate dealing;

- Private placements of equity

capital;

- Direct investment

opportunities;

- Acquisition finance and

leveraged buy-outs.

RBC has long believed in

the importance of corporate

responsibility.

Our first formal employee Code

of Conduct, developed in 1980 to

embed our approach throughout

RBC, read: ‘It is our duty as a

corporate citizen to add value to

society while earning a profit for our

shareholders. RBC companies take

responsibility for the effects of their

actions, both social and economic.’

Today, this remains one of our

Code’s eight ‘guiding principles’, and

we have continued to evolve our

approach over the years.

In 2007, we developed the RBC

Blueprint for Doing Better™, a

strategy and framework that covers

two particular areas of focus –

diversity and environment – as well

as a set of priorities that address

the increasing expectations of

our various stakeholders. These

priorities are:

Economic impact- Provide strong returns to

shareholders;

- Pay fair share of taxes.

- Create employment;

- Support small business

and community economic

development;

- Foster innovation and

entrepreneurship;

- Purchase goods and services

responsibly.

Marketplace- Develop and provide products

responsibly;

- Provide access to basic banking

services;

- Protect and educate consumers.

Environment- Reduce intensity of operational

footprint;

- Promote environmentally

responsible business activities;

- Offer environmental products

and services.

Community- Provide donations with a lasting

social impact;

- Sponsor key community

initiatives;

- Encourage employees to

contribute.

Workplace- Respect diversity;

- Foster a culture of employee

engagement;

- Provide competitive

compensation and total rewards;

- Provide opportunities for training

and development.

Visit www.rbc.com/responsibility

for more information on specific

projects and policies.

Responsible. Ethical. Green.

The RBC New Wild GardenDr Nigel Dunnett for the RBC Blue Water Project

We would be delighted to talk to you in detail about how we could help to meet your specific needs.

To find out more about our global fund services, or any other information not listed in this brochure, please feel free to contact us at any time:

Call +44 (0) 8000 566 550

Email rbcfunds@rbc.com

Or visit www.rbcwealthmanagement.com/funds

This publication has been issued by Royal Bank of Canada on behalf of certain RBC® companies that form part of the international network of RBC Wealth Management.You should carefully read any risk warnings or regulatory disclosures in this publication or in any other literature accompanying this publication or transmitted to you by Royal Bank of Canada, its affiliates or subsidiaries.

The information contained in this report has been compiled by Royal Bank of Canada and/or its affiliates from sources believed to be reliable, but no representation or warranty, express or implied is made to its accuracy, completeness or correctness. All opinions and estimates contained in this report are judgements as of the date of this report, are subject to change without notice and are provided in good faith but without legal responsibility. This report is not an offer to sell or a solicitation of an offer to buy any securities. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Every province in Canada, state in the U.S. and most countries throughout the world have their own laws regulating the types of securities and other investment products which may be offered to their residents, as well as the process for doing so. As a result, any securities discussed in this report may not be eligible for sale in some jurisdictions. This report is not, and under no circumstances should be construed as, a solicitation to act as a securities broker or dealer in any jurisdiction by any person or company that is not legally permitted to carry on the business of a securities broker or dealer in that jurisdiction. Nothing in this report constitutes legal, accounting or tax advice or individually tailored investment advice.

This material is prepared for general circulation to clients, including clients who are affiliates of Royal Bank of Canada, and does not have regard to the particular circumstances or needs of any specific person who may read it. The investments or services contained in this report may not be suitable for you and it is recommended that you consult an independent investment advisor if you are in doubt about the suitability of such investments or services. To the full extent permitted by law neither Royal Bank of Canada nor any of its affiliates, nor any other person, accepts any liability whatsoever for any direct or consequential loss arising from any use of this report or the information contained herein. No matter contained in this document may be reproduced or copied by any means without the prior consent of Royal Bank of Canada.

Clients of United Kingdom companies may be entitled to compensation from the UK Financial Services Compensation Scheme if any of these entities cannot meet its obligations. This depends on the type of business and the circumstances of the claim. Most types of investment business are covered for up to a total of £50,000. The Channel Island subsidiaries are not covered by the UK Financial Services Compensation Scheme; the offices of Royal Bank of Canada (Channel Islands) Limited in Guernsey and Jersey are covered by the respective compensation schemes in these jurisdictions for deposit taking business only.

RBC Capital Markets is a registered trademark of Royal Bank of Canada. RBC Capital Markets is the global brand name for the capital markets business of Royal Bank of Canada and its affiliates, including RBC Capital Markets, LLC (member FINRA, NYSE, and SIPC); RBC Dominion Securities, Inc. (member IIROC and CIPF) and RBC Europe Limited (authorised and regulated by FSA).

®Registered trademark of Royal Bank of Canada. TMTrademark of Royal Bank of Canada. Used under licence.

ADV 12/309 WMP/12/074/A