SEI Introduces AIFMD Reporting Solution

SEI has included a new reporting tool for fund managers to comply with new requirements under Europe’s Alternative Investment Fund Managers Directive (AIFMD).

Under the Annex IV requirements in AIFMD, asset managers, private equity and hedge funds will have to report a wide range of data and information to national authorities including details on instruments traded, assets under management and liquidity, borrowings, stress test results and leverage.

The SEI service includes data aggregation, regulatory filings, projects and workflow management, quality assurance, and regulatory expertise.

The new European rules demand significantly more data, in which firms have to meet around 340 data fields. Furthermore, firms with cross-border investments are set to face additional headaches because the national regulators may require different versions of the AIFMD forms.

“While clients have tried to manage the complexities of AIFMD in-house, they quickly realize the immense level of effort and coordination it entails,” says Philip Masterson, senior vice president and managing director for SEI’s Investment Manager Services in Europe.

“We’ve also designed the regulatory component of our platform with the flexibility to capitalize on all possible synergies across different reports and to meet new requirements as they come on line.”

For managers who registered with regulators by July 22, 2014, their initial Annex IV reports must be submitted to national authorise no later than January 31, 2015.