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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/04/24 Old Westbury Funds Inc. 40-17F2 1/04/24 1:48K Old Westbury Funds Inc. Command Financial |
Document/Exhibit Description Pages Size
1: 40-17F2 Certificate of Accounting of Securities in the HTML 21K
Custody of an Investment Company
| 40-17F2 | 1st “Page” of 4 | TOC | ↑Top | Previous | Next | ↓Bottom | Just 1st |
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
| 1. | Investment Company Act File Number: 811-07912 |
| Date examination completed: October 31, 2023 | |
| 2. | State Identification Number: |
| AL | AK | AZ | AR | CA | CO |
| CT | DE | DC | FL | GA | HI |
| ID | IL | IN | IA | KS | KY |
| LA | ME | MD D03721305 | MA | MI | MN |
| MS | MO | MT | NE | NV | NH |
| NJ | NM | NY | NC | ND | OH |
| OK | OR | PA | RI | SC | SD |
| TN | TX | UT | VT | VA | WA |
| WV | WI | WY | PUERTO RICO |
Other (specify):
| 3. | Exact name of investment company as specified in registration statement: |
| Old Westbury Funds, Inc. | |
| 4. | Address of principal executive office: |
| 103 Bellevue Parkway, Wilmington, Delaware 19809 |
Report of Management on Compliance with Certain Provisions of the
Investment Company Act of 1940
I, as a member of management of Old Westbury All Cap Core Fund, Old Westbury Fixed Income Fund, Old Westbury Large Cap Strategies Fund (excluding Baillie Gifford China Sleeve), Old Westbury Municipal Bond Fund, Old Westbury California Municipal Bond Fund, Old Westbury New York Municipal Bond Fund and Old Westbury Small & Mid Cap Strategies Fund (Tax Managed Sleeve, U.S. Mid Cap Sleeve and Small Cap U.S. Sleeve) (collectively, the “Funds”), am responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, “Custody of Investments by Registered Management Investment Companies,” of the Investment Company Act of 1940 (the “Act”). I am also responsible for establishing and maintaining effective internal controls over compliance with those requirements. I have performed an evaluation of the Funds’ compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of October 31, 2023 and from September 13, 2023 through October 31, 2023.
Based on this evaluation, I assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Act as of October 31, 2023 and from September 13, 2023 through October 31, 2023, with respect to securities reflected in the investment account of the Funds.
/s/ Matthew Rizzi
Old Westbury Funds, Inc. Vice
President & Treasurer
 |
Ernst & Young
LLP One Manhattan West New York, NY 10001 |
Tel: +1 212 773
3000 ey.com |
Report of Independent Registered Public Accounting Firm
To the Board of Directors of Old Westbury Funds, Inc.
We have examined management’s assertion, included in the accompanying Report of Management on Compliance with Certain Provisions of the Investment Company Act of 1940, that Old Westbury Funds, Inc. (comprising, respectively, Old Westbury All Cap Core Fund, Old Westbury Fixed Income Fund, Old Westbury Large Cap Strategies Fund (excluding Baillie Gifford China Sleeve), Old Westbury Municipal Bond Fund, Old Westbury California Municipal Bond Fund, Old Westbury New York Municipal Bond Fund, Old Westbury Small & Mid Cap Strategies Fund (Tax Managed Sleeve, U.S. Mid Cap Sleeve and Small Cap U.S. Sleeve)) (collectively, the “Funds”) complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 (the “Act”) as of October 31, 2023. Management is responsible for its assertion about compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Act (the specified requirements). Our responsibility is to express an opinion on management’s assertion about the Funds’ compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with the attestation standards established by the American Institute of Certified Public Accountants (“AICPA”). Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.
We are required to be independent of the Funds and to meet our other ethical responsibilities, as applicable for examination engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA.
Included among our procedures were the following tests performed as of October 31, 2023 and with respect to agreement of security purchases and sales or maturities, for the period from September 13, 2023 (the date of our last examination) through October 31, 2023:
| ● | Confirmation of all securities held by Bank of New York Mellon and Federated Shareholder Services Company in book entry form; |
| ● | Reconciliation of all such securities to the books and records of the Funds and the custodian; |
| ● | Agreement of pending purchase activity as of October 31, 2023 to documentation supporting corresponding subsequent cash payments and related settlements; and |
A member firm of Ernst & Young Global Limited
|
| ● | Agreement of a total of five security purchases and five security sales across all Funds since our last examination from the books and records of the Funds to cash settlement per the bank statements. |
We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Funds’ compliance with the specified requirements.
In our opinion, management’s assertion that the Funds complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Act as of October 31, 2023, with respect to securities, reflected in the investment accounts of the Funds is fairly stated, in all material respects.
This report is intended solely for the information and use of management and the Board of Directors of Old Westbury Funds, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
New York, New York
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| This ‘40-17F2’ Filing | Date | First | Last | Other Filings | |||||
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| Filed on / Effective on: | 1/4/24 | 2 | 4 | ||||||
| 10/31/23 | 1 | 4 | NPORT-P | ||||||
| 9/13/23 | 2 | 3 | |||||||
| List all Filings | |||||||||