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.
According to State Street, its UCITS reporting capabilities include exposure and concentration limit reporting, Value-at-Risk (VaR) analysis, back testing and stress testing.
State Street will provide clients a full set of pre-defined reports detailing the risk profiles of their funds for each of the UCITS-required reporting elements.
State Street said for clients who also require compliance testing to support their UCITS portfolios, it will provide an additional reporting suite that incorporates testing of asset mix, concentration risk, quality ratings and leverage restrictions.
In addition, interactive risk services will be available with customizable reporting and position-based risk analysis, said the company.
State Street’s KIID solution incorporates data provision, including calculation and monitoring of ongoing charges and Synthetic Risk and Return Indicator (SRRI) as well as provision of past performance, document collation/management and translation.
It was in December 2004, that AXA Investment Managers appointed State Street to provide fund accounting and administration services across the UK, France and Germany, and extended to include Luxembourg, Ireland and Switzerland and the AXA Rosenberg APAC fixed and balanced funds.
