Frankfurt am Main & Luxembourg, 26th June, 2019
acarda is ready to produce the template for disclosure of fund costs and charges to institutional investors for UK asset managers. The newly launched “Main Account Template” of the Cost Transparency Initiative (CTI), a UK industry working group, is even supported by the Financial Conduct Authority (FCA) as an observer.
The new templates launched by CTI were presented for the first time at the end of May 2019 in London and have to be adopted by asset managers by the end of 2019. These templates enable asset managers to present costs, charges and other key information in a standardized way.
acarda, the German RegTech company, is already producing Defined Contribution Pension Templates (DCPT) successfully for the British market. acarda offers this module as an enhancement to its Transaction Cost Calculation (TCC) according to the PRIIPs regulation.
Gerhard Jovy, Managing Director of acarda, states: “The CTI-template considers the full range of cost and charges of institutional investment funds, like e.g. implicit transactions costs and the total costs of lending and borrowing stocks within a portfolio.”
Khaled Al Mahayni, Head of Product Management MiFID / PRIIPs, adds: “Most of the UK asset managers will comply with the new CTI-data standards before the end of the calendar year 2019. acarda has been asked by two UK clients to produce for more than 1,000 fund share classes also the new CTI-standard. From our perspective, the CTI challenge is like the transaction cost calculation according to DCPT in the UK or PRIIPs / MiFID II in the European Union and the RG97 fee and cost disclosure in Australia.”
Please contact Gerhard Jovy, Managing Director, at +49 69 24 44 88 10 or via email Gerhard.Jovy@acarda.de for further information.