New York (HedgeCo.Net) – In order to help hedge fund managers cope with the new regulations laid out by the Alternative Investment Fund Manager’s Directive (AIFMD), BNY Mellon has launched a service that helps fund managers identify, aggregate and manage their regulatory reporting requirements.
“BNY Mellon 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,” the $1.5 trillion investment company said in a statement obtained by HedgeCo. “The company will then populate the AIFMD Regulatory Report for the AIFM to review, approve and file with the National Competent Authority.”
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. The report requirements are extensive and cover aspects of both the fund manager and the fund, such as investment strategies, exposures, portfolio concentration, total value of assets under management, principal markets and instruments in which investments are made, plus detailed information on the funds’ risk profile.
“Alternative investment fund managers are increasingly challenged by the growing global regulatory reporting demands of AIFMD,” said Alan Flanagan, BNY Mellon global head of product management for alternative investment services. “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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