Thu, Oct 2, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

GlobeOp starts hedge fund service that supports requirements of first SEC deadline for private fund (Form PF) reporting

Thursday, August 18, 2011

Tony Glickman
Opalesque Industry Update – With the first SEC deadline for private fund (Form PF) reporting currently less than six months away for many large hedge funds and managed account platforms, GlobeOp Financial Services has launched a reporting service to specifically support the requirements.

“Many funds with more than $1 billion in assets under management (AuM) potentially face their first quarterly reporting deadline on 15th January, 2012,” said Tony Glickman, global head of Analytics at GlobeOp. “The complex reporting forms are compounded by the fact that larger funds and managed account platforms often involve complicated portfolio, risk and performance data. For example, we’ve determined that one report element requires 449 data points across 14 categories. As our clients’ administrator and a key financial services partner, we are uniquely positioned and operationally geared to help. We already supply much of this data in daily, weekly or monthly reports to fund managers and investors. By efficiently gathering data and drafting reports for client review and submission, we can help them meet regulatory obligations, save time and reduce investment in internal resources.”

Glickman noted that the specific portfolio data required depends on fund type and size, and typically includes a combination of fund manager, fund and investor information. It can also include asset and/or derivatives exposures, financing transactions, collateral arrangements, counterparty exposures and indications of liquidity. Data will be required both on a fund-by-fund basis as well as on an aggregated investment manager-wide basis. In many cases, funds will need to provide risk data such as sensitivities, value-at-risk (VAR) and scenario analysis.

GlobeOp’s support will begin once fund clients determine their Form PF obligations, based on SEC registration, US beneficial ownership and management of a hedge, liquidity or private equity fund. Fund management companies retain ownership of fund data and SEC filing responsibility. GlobeOp will minimise the operational burden by leveraging existing, integrated fund data infrastructures – including the general ledger, risk and pricing engines.

Pending finalisation with the SEC the service will be electronic. GlobeOp will gather data and produce Form PF reports for clients to review, authorise and submit. As all funds must be included in a single report, GlobeOp will also offer to aggregate data from client sources or other administrators.

(press release)


GlobeOp Financial Services (LSE:GO.) is an independent financial administrator specialising in middle and back office services and integrated risk reporting to hedge funds, asset management firms and other sectors of the financial industry – including family wealth, banks, insurance companies, pension funds and corporate treasuries. By outsourcing to GlobeOp, clients can reduce their technology investments and operational risks, while increasing their focus on asset generation and portfolio management. Established in 2000, GlobeOp serves over 200 clients worldwide, representing $170 billion in assets under administration. Headquartered in London and New York, GlobeOp employs approximately 2,000 people on three continents through its 10 offices in the Cayman Islands, India, Ireland, the UK and US. www.globeop.com

Form PF is a US regulatory requirement designed to assist the SEC in monitoring systemic risk, and is an outcome of the Dodd-Frank Wall St. Reform Act. It is a private document that funds must submit either quarterly or annually to the SEC, depending on the size of assets under management. While some details are still to be finalised, Form PF data requirements include portfolio, performance and risk details. Relevant funds larger than $1 billion in AuM are required to make their first submission on 15th January, 2012; funds with less than $1 billion in AuM must submit their first data on 31st March, 2012. www.sec.gov/rules/proposed/2011/ia-3145.pdf


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   

Banner

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. Launches - Goldman Sachs Asset Management launches GS Long Short Fund, Western & Southern launching international hedge fund, Lansdowne Partners plans energy hedge fund, RBC Global Asset Management launches new RBC Funds (Lux) - Asia Ex-Japan Fund, PVE Capital latest credit strategy to launch on the Sciens managed account platform[more]

    Goldman Sachs Asset Management launches GS Long Short Fund From Marketwatch.com: Goldman Sachs Asset Management has announced the launch of the Goldman Sachs Long Short Fund, which pursues high conviction investment ideas in global equity markets through a fundamental, bottom-up approach

  3. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is

  4. Opalesque Exclusive: Institutions eye private credit over traditional fixed income[more]

    Bailey McCann, Opalesque New York: Investing in private insurance, realty tax receivables, or investment-grade short-term accounts receivable may not spring to mind as a means of mitigating risk in a portfolio, but one firm, New York-based BroadRiver Asset Management is out to change all that. Th

  5. Short-term trading quant fund beats S&P since '09[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A relatively new multi-strategy, market-neutral quantitative hedge fund has managed to outperform the S&P500 and the HFRX Global since 2009. New Jersey-ba