UCITS IV drives ING IM to outsource reporting
ING Investment Management (ING IM) has chosen Luxembourg-based fund support provider KNEIP to help it meet reporting requirements made mandatory under UCITS IV
KNEIP will produce Key Investor Information Documents (KIIDs) on behalf of ING IM for all of its European funds and their representative share classes.
It will manage the data collection, document layout, translation, production and distribution of the documents.
Under the terms of the UCITS IV directive, effective as of July 2011, investment managers are compelled to produce KIIDs for each represented share class.
ING holds over 240 funds, representing 870 share classes. The decision to outsource its reporting requirements reflects a growing trend among investment managers, who often do not have the time or resources to produce KIIDs themselves.
Recently, Northern Trust partnered with specialist reporting provider Equipos to help their European clients produce KIIDs.
The latest partnership builds on an existing relationship between ING IM and Luxembourg asset management support firm KNEIP, which provides its listings, corporate actions, Masterfile with FPP, and fund reporting services.