Augentius, the trusted global private equity and real estate fund administration specialist, has announced the launch of a new AIFMD Reporter service.
Developed in conjunction with leading software provider KNEIP, the offering provides a comprehensive solution to a fund's AIFMD reporting needs.
The new service allies Augentius' unparalleled technical expertise with the best technology on the market. KNEIP's software was selected following a four month process during which five competing systems were reviewed. Augentius opted for KNEIP's solution on the basis of its unique reach (it plugs into any of the 30 regulatory regimes around Europe), the firm's superior technical knowledge, as well as its long experience of delivering similar regulatory reporting solutions across Europe.
The service - already tested successfully with real fund data - comprises three possible levels of service, from total outsourcing through to simply having access to the software. Clients will be able to transition across the different service levels over time as they develop their own knowledge and experience in the regulatory requirements.
Ian Kelly, CEO of Augentius, said: "The deadline for the first tranche of AIFMD reporting couldn't come at a worse time for private equity and real estate managers. CFOs already have enough on their plate delivering to investors and assisting with hectic deal flows. The last thing they want is another onerous and alien reporting burden, the details of which are still unclear in many jurisdictions even at this late hour.
"There are numerous AIFMD reporting solutions on the market, but most are just systems-based. AIFMD Reporter stands out - it's a combination of the best system supported with technical help and support from Augentius. The service is focused entirely on the private equity and real estate sector, which faces a number of distinct challenges relative to other sectors affected by AIFMD. AIFMD reporting involves a lot of manual work, and many firms will need expert guidance at the very least. There is also a future-proofing element. AIFMD is still evolving, but our service will stay on top of the developments, across 30 different countries, so clients don't have to".
"It is crucial that firms get a handle on this well ahead of time. We believe demand for this service will be high. Firms that wait until December to tackle the problem may find themselves in difficulties."