Lipper and European Fund Administration (EFA) are joining forces to help fund managers achieve UCITS IV compliance with a new Key Investor Information Document service. The Lipper-EFA KIID Premium Solution is a comprehensive, fully integrated KIID publication and management service.
The KIID became a legal requirement on July 1, 2011 as part of the UCITS IV legislation and offers potential investors an overview of the key features of all UCITS investment products. It places more stringent reporting requirements on the industry regulations by requiring weekly monitoring of risk and assurance that the document remains compliant over its lifetime.
The Lipper-EFA KIID Premium Solution combines Lippers experience in fund data management and analysis with EFAs expertise in producing regulatory reports. It is a fully integrated KIID production and distribution service, which will see Lipper providing the required data and calculations necessary for the set-up and ongoing monitoring of the KIID. EFA will manage the production and publication of the KIIDs including assistance and advice in setting up the document, validation and monitoring, translation, document storage and distribution through different sales channels.
EFA already provides a proprietary comprehensive KIID solution to its fund administration clients, ranging from data calculation to the full KIID publication. Commenting on the new solution, John Glesener, product & strategic development director at EFA, said: The joint service offering is a unique opportunity to provide the asset management community and especially Lipper customers with a true specialized and standalone solution.
(JDC)