Custodian

Under a Custodial Agreement, Five Rivers has tied up with Axis Bank Limited to provide custody services for assets on a client wise basis. Under this arrangement, each client opens a bank and a depository account with Axis Bank in his/her own name and Axis Bank operates these account under instructions from Five Rivers, as per the Custodial Agreement.

Thus, while the client provides Five Rivers with the mandate to manage his/her assets, the physical safekeeping and transaction on the assets is carried out by the Bank.

Portfolio Accountant

Under a Portfolio Accounting Agreement, Five Rivers has outsourced the accounting for trades and valuation of portfolios of clients to Axis Bank Limited. Apart from reporting to Five Rivers, Axis Bank Limited generates and sends the portfolio and performance details to each client, every weekend. This process provides third party verification of client assets and independent reporting of performance of the portfolio vs. benchmarks.

Auditors

As mandated by SEBI, Five Rivers will provide every active client with an audited report of their account, as at the end of each financial year. For this exercise, Five Rivers has tied up with Manek & Associates who will look into the accounting practices and transactions carried out on behalf of clients and prepare client wise audited reports at the end of each financial year.