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BNY Mellon launches AIFMD reporting service
10 December 2013
New facility aimed at helping fund managers cope with reporting requirements
BNY Mellon has launched a service to help fund managers meet “extensive” reporting requirements of the Alternative Investment Fund Managers (AIFM) directive.
The directive requires managers to file special formatted reports with their home member state’s supervisory authority or National Competent Authority.
“Alternative investment fund managers are increasingly challenged by the growing global regulatory reporting demands of AIFMD,” said Alan Flanagan, BNY Mellon’s global head of product management for alternative investment services. “Our seamless solution will provide them with a signature ready report for their approval and submission, enabling them to stay focused on investment strategy and management.”
BNY Mellon said it 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 where appropriate. The company will then produce the regulatory report for the AIFM to review, and then approve and file with the National Competent Authority.
The reporting requirements cover aspects of the fund manager and fund, including investment strategies, exposures, portfolio concentration, total value of assets under management, principal markets and instruments in which investments are made, in addition to detailed information on the funds’ risk profile.