Confluence Successfully Prepares Clients to Meet 31 December Reporting Period Deadline for Complex AIFMD Annex IV Filing
Technology-enabled Solution Ensures Accuracy and Control to Meet Unprecedented Complex Filing Requirements
February 3, 2015
Confluence, the global leader in investment data management automation for regulatory, financial and investor reporting, today announces that it has successfully assisted European Union (EU) and non-EU asset managers and third-party service providers to prepare their AIFMD Annex IV reports to file with National Competent Authorities (NCAs) for the reporting period ended 31 December 2014, under the Alternative Investment Fund Managers Directive (AIFMD). The complexity of the new filing requirements, including the inclusion of more than 400 data points, means that more and more asset managers are turning to technology to ensure completeness, accuracy and control over the entire AIFMD reporting process. The 31 December reporting period is the most significant to date since it represents the first time that all authorised AIFMs, regardless of size or types of AIFs managed, must report to the required NCAs.
Using Confluence's Unity NXT™ technology-enabled solutions, asset managers were required to file AIFMD reports in multiple jurisdictions, representing the added complexity of the regulatory process. While the Confluence solution offers the flexibility to support filings to any required jurisdiction, for the recent deadline filings were supported to seven jurisdictions — Denmark, Finland, Ireland, Luxembourg, Netherlands, Sweden and UK.
With a frantic year for European regulation, Confluence has seen considerable growth in the use of its Unity NXT AIFMD Transparency Reporting solution by asset managers, which provides assistance in complying with AIFMD by streamlining the reporting process and providing automated validation and audit controls. Unity NXT AIFMD Transparency Reporting also facilitates filings in multiple jurisdictions across Europe, a key concern for financial professionals inside and outside of the EU.
Commenting on the filing deadline, Hugh Byrne, Managing Director EMEA Business Development for Confluence said, "AIFMD was an important piece of legislation for the fund management industry, presenting major implementation and compliance challenges. Meeting this milestone regulatory reporting deadline was a real test to see if managers had the systems and processes in place to manage the report's complex data challenges, and deliver the necessary documentation to the regulators accurately and on time. This deadline has been a great success for Confluence, as it confirms that Unity NXT AIFMD Transparency Reporting and our expert services team deliver a robust and efficient solution for managers wishing to streamline their regulatory filing process while providing automated validation and audit controls."
Confluence is a global technology solutions provider delivering innovative products to the worldwide money management industry, to meet asset managers’ and service providers’ performance, reporting, analytics, risk and data needs. With the recent acquisition of StatPro, Confluence offers its clients a broader range of data-driven managed investment solutions including post-trade regulatory and shareholder reporting, performance and attribution, portfolio analytics, and asset data services and data management, delivering a full technology suite to the front, middle and back office. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with locations across Europe, North America, South Africa, Australia and Asia.