BNP Paribas To Offer Outsourced AIFMD Reporting Service

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BNP Paribas Securities Services is one of Europe’s largest depositary banks with over $9tn in assets under custody.

The service will enable asset managers concerned by the directive to report the required data, including exposures and leverage, to their qualified national authorities on time and in the right format.

The first reporting deadline is due to take place on October 31, 2014.

“Depending on the fund manager, the cost of setting up a reporting infrastructure for AIFMD could be in the range of hundreds of thousands to millions of euros,” says John Vaughan, the head of product for fund administration, middle office outsourcing at BNP Paribas SS. “This entails collecting, classifying and validating data from multiple sources and performing complex calculations. It is a demanding process for which we have developed a solution which will help ease the burden for our clients and allow them to focus their effort on the strategic management of their funds.”

BNP Paribas, in partnership with IT platform provider Acarda, recently published a guide, The AIFMD reporting challenge – a practical guide to meeting Annex IV requirements to help fund managers in fulfilling their reporting obligations.

 

 

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