BNP Paribas Securities Services (BP2S) said that it will now offer Ucits IV KID-compliant reporting packs, as part of its ongoing commitment to assist asset managers in tackling the complex regulatory landscape.
Under Ucits IV, an asset management company must produce a two-page ‘key investor information document (KID)’ in a non-technical style. It must be comprehensible and allow the investor to make comparisons. This is a mandatory measure under the new directive on undertakings for collective investment in transferable securities, Ucits IV. The KID will have an immediate impact on the asset management community as it will represent additional workload for asset managers who will be required to replace the simplified prospectus.
BP2S said it will provide clients with the ideal tools to meet these KID requirements. The BP2S offer is built around the collection of mandatory data, production and distribution of the KID. It is modular and flexible, allowing asset managers to adhere to the new rules.
The BP2S reporting packs will include performance and market risk indicators for both simple and complex funds. They will provide quantitative aspects (performance, charges and risk), while the asset manager handles qualitative aspects (description of investment policy and fund objective) by contributing to the production of the KID through BP2S’ online interactive tools.
Mauro Dognini, head of BP2S asset manager practice, said: “By continuously improving our range of services, BP2S aims to provide its asset manager clients with world-class solutions to help them comply with complex regulatory change. The KID-compliant reporting packs fit within the BP2S AlphaSuite solution for asset managers – an offer protects investments, services assets, measures performance and optimizes strategy.”