Flexible solution for AIFMD's complex data collection, management and reporting requirements
BNY Mellon, the global leader in investment management and investment services, has announced a new service for fund managers that helps them identify, aggregate and manage the regulatory reporting requirements of the Alternative Investment Fund Manager's Directive (AIFMD).
Under AIFMD, Alternative Investment Fund Managers (AIFMs) must file a specifically formatted report with their home member state's supervisory authority, or National Competent Authority. The report requirements are extensive and cover aspects of both the fund manager and the fund, such as investment strategies, exposures, portfolio concentration, total value of assets under management, principal markets and instruments in which investments are made, plus detailed information on the funds' risk profile.
BNY Mellon 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 as appropriate. The company will then populate the AIFMD Regulatory Report for the AIFM to review, approve and file with the National Competent Authority.
"Alternative investment fund managers are increasingly challenged by the growing global regulatory reporting demands of AIFMD," said Alan Flanagan, BNY Mellon 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 is a leading administrator of alternative assets, including single manager hedge funds, funds of hedge funds and private equity, with more than $600 billion of alternative assets under administration and/or custody and offices worldwide. BNY Mellon also offers a wide range of cash management, foreign exchange, collateral management, corporate trust, and wealth management services to the alternative investments industry.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).