Scenario
This large asset Manager has a range of UK funds and a range of Luxembourg funds.
The funds include both UCITS and non-UCITS funds and include a wide range of traditional assets,
The Manager has one key administrator and then several other administrators also. There is a variety of different valuation points.
The client was not able to obtain any economies of scale. The client did not have its own single consolidated view of all its holdings for the purposes of shareholder disclosure monitoring. The client was relying on each of its different administrators as regards the Annex IV and other regulatory reporting obligations. Separately, the client had several OMS that were also supporting investment compliance.
What the client was looking for
The client was reluctant to commit to a comprehensive new solution. Instead, the client was looking for one single platform to aggregate all their data from their various fund administrators into a single Regulatory Book of Records (RBOR).
This aggregated data hub would then be used to send the data to the client’s selected choice of provider(s) for regulatory reporting, investment compliance and Annex IV Reporting and investor document production.
Why Funds-Axis was selected
The client selected Funds-Axis for a range of reasons, including:
- Our relationships and existing data integrations with all of their fund administrator
- Our open architecture
- Our secure SAAS solution meant that there was no requirement for internal server provisioning and technology effort
- Our multi-modular framework would provide a BCP / DR contingency service in respect of any of their selected service providers; it would also provide a framework to support any transitions from one provider to another.
- Our ability to offer all the required solutions on a plug and play basis, with the client retaining flexibility of continuing with or selecting new individual providers as they wished.
The perceived barriers
The client was concerned about the impact and need to involve its other data providers and vendors.
In practice, there was no interaction required. Rather, the client data was simply sent additionally to Funds-Axis and we were able to proceed with the implementation and aggregation process.
How things look today
The implementation was straight-forward and completed quickly, leveraging all of our existing data integrations with the various data administrators.
Every day, on a fully automated basis, all the client’s data is fully uploaded and aggregated to provide the client with a single consolidated view of all holdings.
The client also benefits from all our standardised reporting in respect of leverage, liquidity, counterparty risk etc. There is a process to transition various elements of regulatory reporting from current vendors to our platform and service.
An added benefit is that we have now consolidated all the client’s portfolio static data in one place along with shareclass prices and distribution data, such that we can now also explore providing SRRI, SRI calculations, KIIDs, KID, EMT, EPT etc.
