Confluence, a US-based developer of technology solutions, has released a new web-enabled solution to enable alternative investment fund managers meet the AIFMD reporting and regulatory requirements.
The Confluence Unity NXT AIFMD Transparency Reporting solution combines web-based software hosted in Luxembourg with a European service team focused on European regulations, specifically AIFMD.
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According to the company, the solution can be implemented by any alternative investment fund manager seeking to automate data collection and calculation, improve accuracy through standardized workflows.
Additionally, the solution automates filings to all regulators across the EU.
The solution can be implemented in time for fund managers to meet the approaching 2014 filing deadlines, the company added.
The solution features an intuitive dashboard with a built-in error checker to flag missing data points, validate calculations, and record valuation assumptions for compliance purposes.
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By GlobalDataA formal workflow captures inputs, changes and approvals from different users based on their roles, and the application’s formal audit trail and document archive capabilities facilitate regulatory and service reviews.
Melvin Jayawardana, European market manager for Confluence, said: "We’ve put together a service team whose local knowledge combines with automated software that can be updated to accommodate any further regulatory changes. Fund managers located in Europe, and those who sell into Europe, can use this tool to make AIFMD a non-issue in time for the upcoming filing deadlines."
