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 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 says, "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 optimises strategy."
About BNP Paribas Securities Services
BNP Paribas Securities Services is a wholly-owned subsidiary of the BNP Paribas Group, delivering flexibility and commitment, backed by the strength of a leading universal bank.
Operating across the investment cycle, we provide post-trade administration solutions to buy-side and sell-side financial institutions and issuers. The Bank has a local presence across 32 countries and global coverage of over 100 markets, offering a one-stop shop for all asset classes, both onshore and offshore, across the globe.
With USD 5793 billion assets under custody, USD 1049 billion assets under administration and over 6,000 funds administered*, BNP Paribas Securities Services is Europe's leading securities services provider and number 5 worldwide.
as at 31 December 2009
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world* and the largest bank in the eurozone by deposits. With a presence in more than 80 countries and more than 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Retail Banking, the Group has four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas is rolling out its integrated model across the Europe-Mediterranean zone and boasts a large network in the United States. BNP Paribas Personal Finance is the leader in consumer lending in Europe. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia.
* Rated AA by Standard & Poor's i.e. 3rd rating level on a scale of 22.