Institutional Trust Services (ITS) provides investment administration services to pension funds, asset managers and Family Offices. They offer regulatory reporting for AIF’s as a service and take care of the Annex IV reporting for about 25 authorized funds on a quarterly basis. For this case, we spoke to Quintin van Wijk, Director of Institutional Trust Services B.V.
The AIFMD Annex IV reporting challenge
For ITS it was a logical choice to select a supplier to generate the correct AIFMD reporting XML for the Annex IV reporting. The entire Annex IV report consists of about 300 fields. According to Van Wijk, you need to know exactly what data to fill in each field and know how the validations will be done by the regulator. It’s trial and error, according to Van Wijk. “It is not our core business to develop the XML for AIFMD reporting. It made sense to look for a partner with the right technical capabilities to make the process more efficient.”
Matterhorn presented their AIFMD Annex IV reporting software to ITS. ITS already has a system in place in which their data is well organized. Van Wijk just had to export a CSV file from these data-sets. Matterhorn’s Annex IV reporting software can interpret CSV files and arrange the data in a way that the AIFMD reporting XML will be validated correctly.
“The Annex IV reporting template included a comprehensive description of what information is required for each field. We simply imported the data from our system, and it worked.”
Thanks to Matterhorn’s Annex IV reporting software, Van Wijk and his team save time by not having to develop the XML everytime the Annex IV reporting requirements update. They can easily upload their data sources output (CSV) in the Matterhorn software to get the right AIFMD reporting XML.The automated validation and consistency checks built into the software give Van Wijk peace of mind.
ITS is confident about following the latest regulations and guidelines. According to Van Wijk, the process is simple and secure. Matterhorn has proven their expertise and demonstrated their AIFMD Annex IV reporting template is in-line with the most recent ESMA format. ITS can now focus on the quality of the data, and Matterhorn can keep developing the template to comply with the latest Annex IV reporting requirements. The result is an effective collaboration in which Matterhorn facilitates the service provider in creating the AIFMD reporting XML.
“From the first moment we connected with Matterhorn, there was a great connection. They understood our requirements and demonstrated a deep expertise in AIFMD regulatory reporting, presumably due to their wide variety of clients. Swift processing and ongoing support. These men know what they are talking about.”