About AVEGA Capital Management
AVEGA Capital Management S.A. (ACM) is a partner-owned third-party Alternative Investment Fund Manager (AIFM),
specialized in private markets. Acting as a regulated manager in compliance with the Alternative Investment Fund
Managers Directive (AIFMD) ACM offers asset managers, banks, pension funds, insurance companies and corporates access to
regulated funds within the Luxembourg market. Additionally, ACM facilitates access to an EU marketing passport for
professional investors. For this case, we spoke to Jens Holzhäuser, Managing Director of ACM.
The AIFMD Annex IV reporting challenge
As a long term user of the Matterhorn tool, Holzhäuser has been involved with AIFMD Annex IV reporting software for
years. He learned about the Annex IV reporting solution from Matterhorn when he was working at an Investment Fund
Manager in Luxembourg. There, he had to deal with a service provider doing the AIFMD Annex IV reporting for their firm.
Although they were paying a premium, the process turnaround time didn’t meet their expectations. For example, when there
was a small problem with the quality of their data, they sometimes had to wait for days before their service provider
was able to resolve the issue.
When Holzhäuser discovered Matterhorn, he felt it was easy to insource the Annex IV reporting and be in control of the
entire process. His goal was to become less reliant on the external partner for AIFMD Annex IV reporting.
Later Holzhäuser started working at a technology concern where he started offering AIFMD Annex IV reporting as a service
to the current client data-base. He grew the AIFMD Annex IV reporting team and had to submit more than 1.200 AIF(M)
reports per year. They needed a robust solution to solve the AIFMD Annex IV reporting challenge.
With the AIFMD XML filing software from Matterhorn, Holzhäuser and his team managed to leverage their inhouse expertise
and be in control of the entire process. The data validation during data import combined with the automated checks for
completion gave Holzhäuser confidence he was doing the reporting right. For safety reasons, Holzhäuser only used the
solution for 10% of their clients at first. When they discovered how easy it was to use the AIFMD Annex IV reporting
template from Matterhorn they were confident to report with Matterhorn’s Annex IV software for the entire client base.
Holzhäuser maximized the firm’s profit by implementing a more cost-effective and efficient tool for AIFMD Annex IV
reporting. From the first time he started doing the reporting inhouse, the firm became independent and didn’t have to
rely on the service provider for their Annex IV transparency reporting anymore.
“It feels good to be in control of the entire process. We worked more efficiently and saved time on the turnaround, and
therefore we could allocate our resources better. Ultimately, we reduced the operational risk of outsourcing the process
and saved a considerable amount of money.”
“Matterhorn has always been very responsive.They gave us the comfort that we needed because they are very much into the
AIFMD Annex IV topic. When I needed some specific controls, Tijs could easily implement them.”