Scenario
The client managed a broad range of portfolios, including their own as well as several inward and outward delegation arrangements.
Generally, the client remained below the thresholds for large shareholder reporting and actively took steps to ensure they stayed below filing requirements. However, filings were occasionally required. The client was also mindful of issuer-specific limits across various jurisdictions, as well as Takeover Dealing Disclosure obligations in the UK and elsewhere.
Historically, the client relied on macros and rules coded into their Order Management System (OMS).
What the client was looking for
The client was looking for a cost-effective solution that would instantly provide transparency over all holdings and filing requirements, including with validation of the required denominators (voting rights, NSI etc.) for the different rules
The client was looking for a lite-touch, low maintenance, outsourced solution.
The client valued the available support to be able to prepare and validate all filing that’s did occur.
Why Funds-Axis was selected
The client selected Funds-Axis for a range of reasons, including:
- The ease of onboarding, including our relationships and existing integrations with their fund administrator
- The level of transparency, including full analysis based on organisation / discretionary management / control of voting rights etc
- The competitive costs.
The perceived barriers
Before selecting Funds-Axis, the client was concerned about the potential time and cost of the implementation and the risk involved. We assured the client we would be up and running within 1 week.
How things look today
Every day, on a fully automated basis, all the client’s data is fully uploaded. Funds-Axis provides the required security data through our arrangements with data vendors.
Funds-Axis alerts the client where any of the positions are close to any of the filing limits.
Funds-Axis ensures all required filings are accurately prepared, thoroughly reviewed, and delivered to the client for timely submission.
