State Street teams with AXA IM for KIIDS
State Street Corporation is extending its relationship with AXA Investment Managers (AXA IM) to provide production and servicing for the Key Investor Information Document (KIID), a mandatory requirement of the new UCITS IV directive.
Under UCITS IV, asset managers will be obliged to replace their current simplified prospectus or factsheet with a KIID for each individual UCITS product sold within the European Union. State Street is working closely with regulators and clients to provide solutions that help clients optimise operations in the wake of UCITS IV and continuing regulatory changes.
Services include core custody and fund administration, performance analytics, transfer agency and tax reporting at investor level. State Street’s KIID solution incorporates data provision, document collation/management and translation, and advanced risk reporting, including exposure and concentration limit reporting, Value-at-Risk (VaR) analysis, back testing and stress testing.
State Street was originally appointed by AXA Investment Managers in December 2004, to provide fund accounting and administration services across the UK, France and Germany.
The relationship has since extended to include Luxembourg, Ireland and Switzerland and the AXA Rosenberg APAC fixed and balanced funds.State Street Corporation has $21.5bn in assets under custody and administration and $2trn in assets under management at December 31, 2010.