Miles Software Solutions (P) Ltd. (Miles), a leading provider of technologically-advanced solutions to asset and wealth management firms across the world, has launched Ucits (Undertakings for Collective Investments in Transferable Securities) IV-compliant fund solution through MoneyWare FundWare.
UCITS IV, implemented on 1 July 2011, clarifies the UCITS derivative exposure calculations and emphasises the role of Boards and Senior Management in ensuring that adequate risk management arrangements are in place, whilst at the same time providing new opportunities for organisational efficiencies and cost savings.
MoneyWare FundWareTM is a sophisticated, flexible solution that seamlessly integrates and automates the entire asset management lifecycle. The UCITS IV-compliant new version offers comprehensive UCITS investment compliance monitoring for derivatives global exposure and counterparty risk in accordance with UCITS IV and ESMA guidelines.. It fully supports UCITS Risk Limit System requirements, liquidity risk analysis and stress testing, and identification of key risks for KIID disclosures.
Miles Software has partnered with Funds-Axis, a UK-based firm with extensive experience implementing large scale investment compliance monitoring systems, to deliver MoneyWare FundWareTM to the EEA (European Economic Area) and United States.
The solution also has comprehensive monitoring capabilities in respect to the global regulatory investment disclosures for over 50 countries. This will include compliance for the European Union Transparency Directive limits, reporting for U.S. Section 13D, 13G and 13F, global short selling rules, takeover disclosure rules such as UK Takeover Rule 8, foreign investment limits and sensitive sector rules.
Milan Ganatra, CEO, Miles Software, said, "Post the financial turmoil of 2008, governments across the globe are implementing new regulations to avoid any similar crisis in future. Regulations cannot be ignored as it is no longer an invisible hand. Regulatory compliance is one of the key strengths of MoneyWare FundWareTM solution which can be easily modified due to its robust framework that meets the requirements of the capital markets in developed nations".
Darren Burrows, Managing Director, Funds-Axis, said, "We are excited to partner with Miles Software whose UCITS IV compliant MoneyWare FundWareTM solution will help asset managers increase efficiency, reduce costs and ensure compliance with the UCITS IV directive."