AMS Financial Group

AMS Netherlands is part of AMS Financial Group, a worldwide operating financial legal services provider. Peter Bogaard has a notarial and tax-legal background and has worked for more than 20 years in the service sector, including as a lawyer and in various management roles.

What does AMS do and what is the role of AMS within the Brouwers Fund?

AMS forms the board of Stichting Juridisch Eigendom Brouwers Fund. Because the fund itself has no legal personality, there is a separate foundation to retain the legal title to all of the fund’s assets. The fund’s assets are the bank accounts.
In order to create a separation between the manager of the fund (Brouwers Fund B.V.) and the fund administrator (Circle Partners), the foundation has an independent board, namely AMS. This is a common set-up with this type of fund.

AMS is licensed by DNB (De Nederlandsche Bank) what does that mean exactly

AMS is licensed to provide services under the WTT (The Trust Offices Supervision Act), including acting as an independent director for third parties. The licence implies that the directors of AMS have been fully screened and approved by DNB, including on reliability and integrity. In order to retain the licence, AMS must meet a number of strict conditions, including identifying the fund manager and the participants, managing certain risks and inspecting the origin and spending of funds. AMS is supervised by DNB, which means, among other things, that reports are made on a regular basis, processes are audited and compliance with laws and regulations is assessed.

What assurance do investors have that AMS keeps the money safe?

The foundation does not act on the bank accounts itself but gives a power of attorney to the manager and administrator of the fund. The manager can only use the funds for making investments, on the understanding that this is only possible within the scope and mandate of the Investment Memorandum. The administrator manages the bank account with regard to the subscriptions and de-registrations of participants as well as making payments other than investments. The foundation checks the administrator for irregularities etc. and also has access to the accounts for ad hoc spot checks. These processes are recorded.