AREP – AIFMD REPORTING

Reporting & data management for alternative investment management firms & administrators

The disclosure requirements listed in Annex IV of the Alternative Investment Fund Managers Directive (AIFMD) of the delegated European regulation include reporting obligations for alternative investment management firms (AIFMs) and alternative investment funds (AIFs). At acarda we offer AIFMs and administrators a comprehensive solution for these reporting obligations including reporting, data management and, optionally, risk monitoring.

WHAT IS THE AIFM DIRECTIVE & WHO IS AFFECTED?

The AIFM-Directive (AIFMD) is a legal framework, determined by European member countries, to regulate managers of alternative investment products (AIFMs). It stipulates the reporting obligations to supervisory authorities which, atop other requirements, AIFMs must fulfil. It applies to both EU and non-EU AIFMs managed alternative investment funds (AIF).

Criteria for the requisite reporting requirements are defined in Arts. 2 to 5 and 110, as well as Annexe 4 of the the n° 231/2013 regulation (EU), in conjunction with Arts. 3(3) (d) and 24(1), (2) and (4) of the AIFM-Directive. AIFMs are obliged to submit one AIFM report and up to three AIF reports, also referred to as Annexe IV reports.

WHAT MAKES OUR SOLUTION SO UNIQUE?

  • Comprehensive consulting & support services throughout the entire reporting process, guaranteeing full compliance with the up-to-date regulatory requirements applicable.
  • High degree of automation for data management & report generation, minimizing time, effort & expenses in the long run.
  • Complete report process monitoring using a web-based dashboard, ensuring transparency at the highest possible level.

CHALLENGES FOR ANNEXE IV REPORTING

Production of Annex IV reports requires an adequate AIFMD reporting system in place to cover comprehensive reporting obligations, and ensures timely submission of reports to supervisory authorities. This gives rise to the following challenges:

Reporting obligations:

  • Clarify which specific reporting obligations apply to AIFMs & AIFs
  • Clarify if/how specific reporting fields must be completed
  • Analyse specific reporting scenarios: fund liquidation, final reporting, change of reporting obligations

Report generation:

  • Evaluate data sources and formats
  • Continually monitor and satisfy ESMA’s updated requirements on reporting fields
  • Cover ESMA’s data processing requirements: compulsory, optional and conditional fields; mapping and aggregations

Quality assurance:

  • Ensure quality over the entire report generation process in order to avoid potential error feedbacks from authorities when submitting reports and thus renewed delivery of reports

Report submission:

  • Register at authorities for web-based submission of reports
  • Analyze requirements on automated submission by third party providers
  • Handle error feedbacks received from authorities

OVERVIEW OF OUR WEB-BASED AIFMD REPORTING SOLUTION

Business competences and processes for your AIFMD reporting that you can rely on.

 

MEASURABLE CLIENT BENEFITS

1. acarda’s comprehensive consultancy for the complete reporting process

  • Comprehensive advice to ensure EU and non-EU AIFMs compliance with the latest applicable reporting obligations, which somewhat differ from one jurisdiction to the other
  • Clarification of relevant reporting fields, data and data sources for AIFMs and AIFs
  • Feedback on data deliveries provided by data templates and through interfaces
  • Feedback and error handling for submitted reports

2. Data management by acarda

  • Provision of adaptors to fund administrators and additional data providers
  • Highly automated data management and report generation process to minimize clients’ time, effort & expenses in the long term
  • Coverage of the entire reporting process workflow, i.e. from data processing over report generation to submission to supervisory authorities
  • Information pool for static data, holdings transactions and historization
  • Check routines to supervise data quality and reporting deadlines

3. Monitoring of the reporting process on a web-based dashboard by acarda and/or the client

  • Monitoring of processes, as well as internal and external data sources for audit trail purposes
  • Permanent access to the latest version of the reporting, including error feedbacks in the process in order to guarantee transparency at the highest level
  • Possibility to compare past and present reports, including history of changes
  • Access to feedbacks from authorities on reports submitted

4. Report generation by acarda & approval by the client

  • Classification of holdings and transactions in compliance with, for example, AIFMD asset classes or geographic areas
  • Aggregation of funds at AIFM level
  • Report generation in compliance with the AIFM directive
  • Available report formats: PDF, XLS and XML
  • Reports approval by the client prior to submission to authorities

5. Automated dissemination by acarda

  • Dissemination in formats and through registrations portals defined by local supervisory authorities
  • Integration of automated dissemination in the dashboard if permitted by authorities
  • Provision of feedback and correction of reports in case supervisory authorities detected errors in reports that have been submitted
  • Data archiving for 5 years

THE APPLICATION AS SOFTWARE AS A SERVICE (SAAS) AND/OR MANAGED SERVICE

Software as a Service

Should you wish, the application can be provided to you as Software as a Service (SaaS) through a highly secured, Tier IV certified computer centre.

The implementation of your own IT infrastructure, with corresponding initial investments, is no longer necessary. In addition, by refraining from using your own systems you avoid increasing the complexity of your IT infrastructure.

This will allow you to concentrate more on your key competences, using your IT skills and resources in a needs-oriented way.

At acarda, we take care of operations as well as providing support services. Secure and easy access to the application is possible via your web-browser.

Business Service / Managed Service

We also offer different reportings as a business service. Under this option our experts will perform all tasks required for your reportings on your behalf.

Service Level Agreement

The specific type and volume of the software as a service or business service will be selected according to your requirements.

You will only pay for the services used according to contractually agreed service level agreements (SLA).

REFERENCES

  • Generation of thousands of AIFMD reports for over 150 alternative investment management companies and administrators across Europe.
  • Dissemination of AIFMD reports to all European supervisory authorities having different local requirements and registration portals.