13 December 2013 by Alexandra Jones
Managing the regulatory reporting requirements of the Alternative Investment Fund Manager’s Directive (AIFMD) is to be made easier with the launch of a new service from Bank of New York Mellon.
Under AIFMD, Alternative Investment Fund Managers (AIFMs) must file an extensive specifically formatted report with their home supervisory authority, or National Competent Authority.
The report requirements cover aspects such as investment strategies, exposures, portfolio concentration, total value of assets under management, principal markets and instruments in which investments are made, plus detailed information on the funds’ risk profile.
To ease this process, BNY Mellon will work with its fund administration clients to aggregate and collect the necessary data from designated sources, including AIFMs, administrators, custodians, prime brokers and risk vendors as appropriate.
The company will then populate the AIFMD Regulatory Report for the AIFM to review, approve and file with the National Competent Authority.
Alan Flanagan, Global Head of Product Management for Alternative Investment Services, said: ‘Alternative investment fund managers are increasingly challenged by the growing global regulatory reporting demands of AIFMD. Our solution will provide a signature ready report for approval and submission, enabling them to stay focused on investment strategy and management.’