Aviva Selects Vermilion for Reporting Compliance

Asset management firm Aviva Investors has selected Vermilion Software for all four of its primary reporting requirements.

Vermilion Reporting Suite (VRS) will handle Key Investor Information Documents (KIID), fact sheets, factbooks and institutional client reports in a single solution. Visualization, oversight, data sourcing and aggregation will all be included as part of the functionality.

"It is essential that our clients can make decisions based on consistent, timely and accurate information about our investment products," says Gerard Hutchings, head of client engagement services at Aviva. "VRS gives us a single automated platform that allows us to meet our clients' needs across a wide range of products and markets."

KIID, which has grown out of Level 2 measures in the Ucits IV directive, is meant to replace the simplified prospectus. The requirements are complex, with restrictions around the level of jargon used in the language, document length, layout and typeface, among other areas. Vermilion's reporting solution was recently described in a Buy-Side Technology article.