Mitsubishi UFJ Fund Services unveils Annex IV reporting service

Fund Administration
29 Oct, 2014

Mitsubishi UFJ Fund Services has engaged with Confluence, a provider of investment data management automation, to offer Annex IV reporting services as mandated under the Alternative Investment Fund Managers Directive (AIFMD).

Under AIFMD, AIFMs managing or marketing AIFs into the EU will be required to submit an Annex IV to the relevant national regulators by January 31, 2015. Annex IV reporting is time-consuming and obligates hedge funds, private equity and real estate funds to fill in more than 300 data points and submit this data to regulators 30 days after the end of the each quarter.  Funds of funds are permitted to submit the Annex IV 45 days after the end of each quarter.

Reporting frequency for Annex IV is determined by assets under management (AuM). Firms running between €500 million and €1 billion are expected to file Annex IV on a semi-annual basis, while managers in excess of €1 billion must submit the report quarterly. Those managing between €100 million and €500 million must file annually.

Mitsubishi UFJ Fund Services’ Annex IV reporting offering is designed to enhance, transform and load data from its administration and middle office platform, and combine this with data from their manager clients in order to complete Annex IV .  Data is mapped to the various questions in the reports and formatted for automatic submission to regulators’ websites.

The reporting service and interface with the regulators is being launched using Confluence’s Unity NXT AIFMD Transparency Reporting platform to format, calculate and submit the required data sets for Annex IV. The service will also leverage and complement Mitsubishi’s existing Form PF and Form CPO-PQR offering.  

“Fulfilling the Annex IV reporting obligation is an essential part of complying with the AIFMD for managers marketing or managing AIFs in the EU. Most managers will need to begin reporting in January 2015 and the time and complexity involved is by far the biggest concern as the deadline approaches,” said Tim Thornton, chief data officer at Mitsubishi UFJ Fund Services.  

A number of service providers have launched Annex IV reporting platforms over the last year as deadlines increasingly close in. On October 23, 2014, BNP Paribas Securities Services launched an outsourced reporting service for firms filing Annex IV.

COOConnect will shortly be publishing a guide to regulatory reporting featuring in-depth interviews with Mitsubishi UFJ Fund Services and BNP Paribas Securities Services on the regulatory reporting challenges facing fund managers. 

AIFMDAnnex IVMitsubishiCPO-PQRForm PFConfluence