BNY Mellon has launched a new service to enable fund managers 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.
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BNY Mellon said that it 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.
It will then populate the AIFMD Regulatory Report for the AIFM to review, approve and file with the National Competent Authority, BNY Mellon added.
Alan Flanagan, BNY Mellon global head of product management for alternative investment services, said: "Alternative investment fund managers are increasingly challenged by the growing global regulatory reporting demands of AIFMD. 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."
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