Factbook launch fully automated Key Investor Information Document (KIID) solution

London - 25 January 2011

Factbook, a specialist provider of fund reporting, marketing and data management solutions to the investment community are delighted to announce their latest addition to Factbook’s solution suite, Factbook KIID™.

Factbook have created an end-to-end solution in Factbook KIID™ that effortlessly assembles and incorporates market and in-house data to deliver CESR “KIID essential elements”. The service handles production and dissemination with ease and produces print ready KIIDs in multiple languages giving investment managers one less thing to worry about.

Productions can be automatically scheduled in advance or on an ad-hoc basis, easily allowing re-runs for material changes. Integrated dissemination tools automatically dispatch single, grouped or multiple KIIDs to several locations simultaneously, further reducing a firm’s time to market. Factbook’s integrated workflow and custom alerts keep you abreast and up to date on the entire production process in real time. Senior management supervision is equally as robust with the built-in dashboard giving management immediate access to visual indicators of progress / points of data failure.

Advanced data management handling capabilities mean the system can alert users, in advance, of likely material changes which may affect your KIID production calendar. The solution automatically calculates and monitors the Synthetic Risk Return Indicator (SRRI) score attributable to each fund or share class; it not only logs the results for future auditing (as per CESR guidelines) but also provides notification of changes to the classification of a fund. If the change is sustained for a significant period (current CESR guideline being four months) then the KIID can automatically be reproduced in order to reflect the funds’ new SRRI classification.

"We are already receiving considerable interest for our Factbook KIID™ solution” commented Bradley Fincken, Factbook’s Business Development Manager. “Investment Managers are increasingly realising that the CESR guidelines on UCITS IV, in relation to the KIIDs, are going to place a considerable burden on Operations and Marketing departments in the run up to the implementation date (for new funds) on 1st July 2011. The Factbook KIID™ solution will remove that burden from those fund managers who subscribe to our solution. It is important to note that industry research clearly indicates that a majority of fund managers feel that implementation of the KIID will help investors in their fund evaluation - by providing true fund comparison within quite a strict framework.”

“The Factbook KIID™ solution is available immediately, and can be set up as an enterprise, hosted, or fully managed (outsourced) deployment giving maximum flexibility to match our prospective client requirements.”

Written by: Bradley Fincken
Business Development Manager, Factbook.
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