CP12/32: Implementation of the Alternative ... - BVCA admin
CP12/32: Implementation of the Alternative ... - BVCA admin
CP12/32: Implementation of the Alternative ... - BVCA admin
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FSA066<br />
Capital adequacy (for collective portfolio management firms and internally managed AIFs )<br />
Regulatory Capital A B<br />
Tier 1<br />
1 Paid up share capital (excluding preference shares)<br />
2 Share premium account<br />
3 Audited reserves<br />
4 Non-cumulative preference shares<br />
5 Eligible LLP member's capital<br />
6 Initial capital<br />
7 Less: Investment in own shares<br />
8 Intangible assets<br />
9 Material current year losses<br />
10 Excess LLP member's drawings<br />
11 Material holdings in credit and financial institutions<br />
12 Total deductions<br />
13 Tier 1 capital<br />
Tier 2<br />
14 Revaluation reserves<br />
15 Fixed term cumulative preference share capital<br />
16 Long term Qualifying Subordinated Loans<br />
17 O<strong>the</strong>r cumulative preference share capital and debt capital<br />
18 Qualifying arrangements<br />
19 Own funds<br />
Regulatory capital tests<br />
20<br />
Own funds test for collective portfolio management firms<br />
Own funds<br />
Higher <strong>of</strong>:<br />
21 Funds under management requirement<br />
and<br />
22 Fixed overheads requirement<br />
23 + (ei<strong>the</strong>r) Pr<strong>of</strong>essional negligence capital requirement<br />
24 + (or) PII capital requirement<br />
25 Total capital requirement<br />
26 Surplus / deficit <strong>of</strong> own funds<br />
Own funds test for internally managed AIFs<br />
27 Own funds<br />
28 Base capital resources requirement<br />
29 + (ei<strong>the</strong>r) Pr<strong>of</strong>essional negligence capital requirement<br />
30 + (or) PII capital requirement<br />
31 Surplus / deficit <strong>of</strong> own funds
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