How should AIFMs report Unencumbered Cash?
This only concerns Authorised (non-Light) funds.
AIF Question 185: Value of unencumbered cash
A definition as found in the ESMA documentation:
Unencumbered cash, i.e. a fund’s position in
cash or cash-like securities not subject to legal
claims by another party (e.g. from collateral
pledges or securities lending activities)
How does Matterhorn help?
Matterhorn automatically sets the Unencumbered Cash  field as the sum of all POSITION records
with Sub-Asset Type  equal to “SEC_CSH_OTHC” (“Other cash and cash equivalents (excluding government securities)”).
It uses POSITION field “Net Asset Value”, so bank overdrafts are subtracted.
If for a POSITION record the field “Net Asset Value” is not filled in,
the POSITION field “Position value (Article 2 AIFMD)” is used.
If the sum ends up below zero, zero is reported.
What if this algorithm does not fit a fund?
Just overwrite our calculation by entering the Unencumbered Cash in our template on the PORTFOLIO_LIQUIDITY_PROFILE
record (field 185).