Advise Technologies, a software solutions provider for regulatory and investor reporting, has launched a new electronic filing tool for the Alternative Investment Fund Managers Directive (AIFMD) in Europe.
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The company stated that the new offering will alleviate the filing process for investment advisors and provide a working solution based on the Annex IV reporting template of the AIFMD and related European Securities and Markets Authority (ESMA) guidance.
The AIFMD, a by-product of the financial collapse, seeks to regulate alternative investment funds, including hedge funds, private equity funds, commodity funds and real estate funds. Member States must implement the AIFMD by 22 July. The AIFMD includes reporting obligations requiring fund managers to regularly report to the competent authorities of Member States.
AIFMs with more than 1 billion AUM will be required to report on a quarterly basis, while AIFMs with at least 100 million (leveraged) or 500 million (unleveraged) but not greater than 1 billion AUM will be required to report semi-annually. Advisors will have one month to complete their filing from the compliance date.
The AIFMD electronic filing solution is available on Advise’s Consensus RMS platform, which offers the foundation for a robust and repeatable reporting process.
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By GlobalDataAdvise said that its Consensus RMS offers integration with key accounting, risk, data warehouse, investor relations and other systems. The solution currently supports AIFMD, Form PF, CPO-PQR, 13F and OPERA reporting.
According to the company, the Consensus RMS platform allows managers with multiple reporting obligations to complete the process from a singular platform and utilize one data set ensuring efficiency and consistency across filings.
