CFS, through its service partners provides essential ETF pricing and financial reporting services that include:
- Allocate income and expense and calculate the net asset value per share (“NAV”) of each class of shares offered by each Fund
- Verify and reconcile with the Funds’ custodian all daily trade activity
- Compute each Fund’s net income and capital gains, dividend payables, dividend factors, 7-day yields, 7-day effective yields, 30-day yields, or weighted average portfolio maturity
- Review daily the net asset value calculation and dividend factor (if any) for each Fund and distribute net asset values to NSCC
- Determine and report unrealized appreciation and depreciation on securities held by the Funds
- Amortize premiums and accrete discounts on fixed income securities purchased at a price other than face value
- Determine the outstanding receivables and payables and accrue expenses of each Fund according to instructions received from the Administrator
- Provide accounting information needed to prepare financial statements, regulatory filings, tax returns, annual audits, and other audits and examinations by regulatory agencies
- Calculate turnover and expense ratio and daily spread between NAV and market price of Shares
- Monitor expense limitations
- Provide the Fund’s Administrator with necessary Trial Balance Reports and holdings reports to facilitate the
production of the annual and semi-annual reports
- Prepare and file the Fund's Form N-CEN, Form N-PORT with the SEC, as required
- Calculate performance data of the Funds for dissemination to third parties
- Monitor for post-trade SEC and IRS compliance and provide Liquidity Risk Management support services with portfolio compliance monitoring in accordance with the SEC Liquidity Rule
- Provide Tax Services including monitoring for wash sales, reviewing income and capital gain distributions for compliance with regulations and prepare information for the Fund’s tax returns.
