SIX launches AIFMD service
Zurich – SIX Financial Information, a leading financial information provider, offers content to comply with the EU Alternative Investment Fund Manager Directive (AIFMD).
Under AIFMD, alternative investment fund managers (AIFMs) looking to market their funds within the EU, Switzerland, and EFTA countries need to obtain and maintain an “EU Passport”. As such, the AIFMs are required to register themselves and their managed funds and submit ongoing reports in order to comply with the directives to their local regulators.
In light of the reporting challenges, SIX Financial Information is providing the AIFMD relevant fund managers and funds data via its flagship reference data feed, VDF. SIX’s securities data enables AIFMs to calculate the correct asset values for the registration and reports to the supervisory authority.
The data service also includes the registered AIFs and their managers, which is obtained directly from the European Securities and Markets Authority (ESMA) and the local supervisory authorities of EU member states. Thus, investment consultants and financial advisors can quickly and clearly see which AIFMs are permitted to market their AIFs within the EU. This will support their compliance with the “Investor Protection” regulatory requirements – based on MiFID.
“The compliance effort is not to be underestimated, and given our expertise in regulatory reference data, we aim to support the fund sector in growing their business and marketing their funds in a compliant way,” commented Phillip Lynch, Head Markets, Products and Strategy, SIX Financial Information.
All of SIX’s data is cross-referenced with many other local and international institutional identifiers – including the Legal Entity Identifier (LEI) – easing the identification and reporting for a wide variety of regulations and directives such as MiFID, FATCA, Solvency II and many more.
About SIX Financial Information
SIX Financial Information is a leading global provider of data and value-added services for the wealth and asset management industry. Aggregated directly and in real-time from 1500 worldwide sources - covering all the major trading venues - SIX’s database includes reference and market data, corporate actions, regulatory data and pricing information for over 16 million instruments. With offices in 23 countries, SIX combines the advantages of local expertise with global reach to offer financial specialists comprehensive data services for asset servicing and administration, middle office, and investment and portfolio management.
SIX operates Switzerland’s financial market infrastructure and offers on a global scale comprehensive services in the areas of securities trading, clearing and settlement, as well as financial information and payment transactions. The company is owned by its users (approximately 140 banks of various size and orientation) and, with its workforce of more than 4‚000 employees and presence in 25 countries, generated an operating income of 1.8 billion Swiss francs and a Group net profit of CHF 247.2 million in 2014.
Data service for the Alternative Investment Fund Managers Directive (AIFMD)
A license is now required for anyone who sells or manages alternative investment funds in the EU. Such licenses are tied to strict requirements and regular reporting obligations that generate workload and tie up resources. SIX relieves this workload by offering the necessary data and information through its AIFMD data service.