Client Checklist

Client Onboarding Checklist

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Below are general steps required to onboard a fund with NAV services. Your fund may require fewer or additional steps. For specific questions, please contact your NAV Account Manager.

DOCUMENT/INFO
ACTION REQUIRED/PURPOSE
  • Service Engagement Letter
  • Sign and forward Service Engagement Letter to initiate onboarding process
  • Market Launch Date
    or
    Tentative Launch Date
  • Provide NAV with anticipated new fund launch date; NAV will create new fund onboarding timeline

    Provide NAV with launch date for funds launched prior to securing NAV services; NAV will create transitioning fund onboarding timeline
  • Fund Domicile
  • Forward full fund location information, enabling NAV to research and ensure compliance with specific domicile requirements
  • Fund Formation Documents
  • Provide:
    • All legal formative documents
    • US Form W9
  • NAV Fund Setup Form
  • Complete and forward the provided Setup form, enabling NAV to update the fund’s official contact and address information in our systems and release authorized reports/notifications
  • Fund Offering Documents:
    PPM, LPA and Subscription Documents
  • Provide all fund offering documents:
    • NAV will thoroughly review documents and may request clarification and/or revisions as necessary
    • Based on specific offering information outlined, NAV will establish system setup, including fees, etc.
  • Broker and Bank Information
  • Forward all details pertaining to Prime Broker, Custodian, and Bank Account(s); enables NAV to establish read-only access to accounts and import all relevant activities into the NAV fund accounting systems
  • Reports
  • NAV will establish periodic report distribution timelines for fund management review, based on provided specifications and contacts
  • Investor Statements Template Review
  • NAV will create a custom template for investor statements using the fund’s logo and design format for your review and approval
  • NAV Manager Portal Setup & Access
  • Provided information required to set up access to the NAV portal, including names, email addresses and authorized access levels
  • NAV Investor Portal Setup & Access
  • NAV offers the option to establish an unlimited number of investor logins on the NAV Portal at no additional cost:
    • Investors can access monthly statements and view a variety of interactive data in a mobile-friendly user-customizable format
    • New investment or account data is automatically updated and available to investors in real time
    • NAV will create and distribute investor logins on your behalf and administer password reset request, provide technical support, etc.
  • Expense Details
    • Estimated/Actual organizational and/or third party expenses incurred in setting up the fund, if any, along with supporting invoices
    • Estimated annual operating expenses to be charged to the fund detailed by line item/specific activities, i.e. audit, tax, legal, etc.
  • Stock Realization Method
  • NAV utilizes a proprietary system to calculate cost and realized gain/loss on securities:
    • Indicate which tax lot method we should follow (FIFO, HIFO, etc.).
    • Ensure the fund broker is using the same methodology; if not, request that they update accordingly – it is more accurate and efficient if the broker and admin are aligned in terms of tax lot methodology

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