Northern Trust to offer UCITS IV reporting service
Northern Trust is offering a new reporting service to help fund managers meet the regulatory requirements brought on by UCITS IV, an EU directive to be implemented in 2011
The new service will help with the production of Key Investor Information Documents (KIID), due to become mandatory for fund managers when UCITS IV is introduced.
Northern Trust has partnered with Equipos to offer the reporting solution, a firm it already uses for its investment operations outsourcing business.
Equipos offers specialist client reporting, document management and business process management for institutional and private clients, and wealth managers.
KIID is being introduced with the aim of creating transparent and uniform financial reporting for all EU member states.
Fund managers will be required to identify the UCITS fund, describe its investment objectives and policy, give past-performance presentation or performance scenarios, outline costs and associated charges, and give a risk/reward profile, including risk guidance and investment warnings.