Viteos has expanded in services to assist clients with US Securities and Exchange Commission Form PF reporting requirements by offering its software to fund administration and shadow accounting clients, as well as to middle-office clients to whom it delivers outsourced operations.
Form PF imposes new and significant operational and reporting burdens on registered fund managers. Depending upon fund size, Form PF filings are due either fifteen days after the end of each quarter or on an annual basis. In the current draft, the SEC estimates that Large Private Fund Advisors that are Hedge Funds firms will require about 75 hours to prepare the initial filing.
The Viteos software works to solve the complex problems associated with both preparing for the initial report and for the ongoing filings.
We believe very few fund administrators have either the flexibility or complete data set to meet the requirements of the filing, Shankar Iyer, Viteos CEO, says. As a next generation fund administrator, we are in a unique position to provide clients comfort around the availability and integrity of data. For a manager there is no off the shelf solution, and its concerning how few managers who qualify are preparing for the January filing.
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