Seeking Excellence in Client Investment Reporting and Communication
Effective communication with the regulators and with clients – AIFMD compliant reporting On Wednesday 27th of November 2013, Comarch Luxembourg SARL hosted over 30 executives from the fund industry in Luxembourg at the restaurant Um Plateau. The invited guests focused on the subject of reporting to the NCAs and clients, but also met with the
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Pawel Bulat
- December 19, 2013
- 3 minutes
Effective communication with the regulators and with clients – AIFMD compliant reporting
On Wednesday 27th of November 2013, Comarch Luxembourg SARL hosted over 30 executives from the fund industry in Luxembourg at the restaurant Um Plateau. The invited guests focused on the subject of reporting to the NCAs and clients, but also met with the Comarch’s Luxembourg team.
On November 11th 2010, the European Parliament adopted the proposal for a directive on Alternative Investment Fund Managers (the Directive or AIFMD). The Directive aims to provide a harmonized European regulatory framework for managers (AIFM) of alternative investment funds (AIF).
Thibaut ParschtThibaut Partsch, Partner in the Investment Management department at Loyens & Loeff, addressed the guests clarifying the requirements resulting from the alternative investment fund managers directive, as well as its implementing regulation and the ESMA guidelines. Partsch focused on reporting obligations to investors and regulators, and some recent evolution on the format and content of the reporting.
Steve BernatSteve Bernat, Director at Lemanik Asset Management, answered questions about the AIFMD related implications from an asset manager’s point of view. Reporting to the regulator is one of the issues fund managers fear most, not only because there are still a lot of questions to be answered, but also because they have to decide what kind of the system would be appropriate for their business. Not all of it can be done in-house, which opens the door to many skilled technology companies.
Michał Kowalski PotokMichał Kowalski-Potok, Business Development Manager at Comarch, gave an overview on Comarch services for the AIFMD reporting. Backed-up by many years of experience in the fund investment industry, Comarch provides full Business Process Outsourcing – it is the broadest service on the Luxembourg market. We offer our AIFMD reporting service for fund administrators as well as for fund managers directly. Thanks to flexibility of our platform, the time to take new customers on board is measured in weeks, assures Kowalski-Potok.
Jim SumpterJim Sumpter, Business Development and Strategy Officer in Skagen Funds Norway, was the clients’ voice at the event. Sumpter shared his experience with a reporting project realized in cooperation with Comarch. Skagen Funds is a Scandinavian investment management company, in charge of 13 mutual funds. Their most important goal was to outsource a secure, dynamic and informative reporting platform that is commensurate with current and future industry best-practices and delivered in a cutting-edge, cost-efficient technology. Skagen sought to enhance SKAGEN AS’ credibility by retelling the SKAGEN story in their reporting, and eliminating possible inconsistencies created by manual interfaces. The reporting platform used today by Skagen Funds is outsourced to Comarch, whose staff service the whole process: from data integration and management to final output generation and delivery to institutional and retail clients in several countries across the globe.
