Sun, Feb 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Drooms launches AIFMD/command in response to new reporting requirements

Monday, March 04, 2013
Opalesque Industry Update - Drooms, the virtual data room provider, has launched AIFMD/command, a virtual data room solution for the large number of fund managers who are lacking the resources to comply with the incoming reporting obligations under the Alternative Investment Fund Management Directive. AIFMD/command enables documentation to be centrally stored and managed for reporting to regulators, investors and stakeholders and allows owners of complex fixed assets to be transaction ready at any time.

According to a recent survey by KPMG, 50% of fund managers feel unprepared for AIFMD and are lagging in preparations to meet the recommended implementation date in July 2013 before AIFMD takes full effect in 2014. Fund managers are challenged with complex transparency and risk management pressures, and must meet the necessary documentation requirements of AIFMD to receive their ‘passport’ for cross-border business.

Drooms’ AFIMD/command virtual data room enables fund managers to reduce market risk by ensuring their underlying assets are transaction ready. For assets that are often illiquid, as are many in private equity and real estate funds, the AIFMD/command virtual data room significantly eases this process. AIFMD/command also simplifies the annual third party valuation requirements under AIFMD, providing easy access to the documentation required for NAV valuations.

Jan Hoffmeister, co-founder, Drooms, says: “Ensuring transparency and mitigating risk are key areas for fund managers to address under AIFMD. The cost and time implications that result from this are an unattractive prospect to fund managers, and Drooms’ AIFMD/command has been tested as an effective, highly tailored solution. The documentation requirements under AIFMD are not exceptionally complicated, but it is essential that they are efficiently structured for assets to be managed well. It is a straightforward but necessary step for fund managers, who, if they don’t comply, could find they are prevented from marketing their offering in the EU next year.”

As AIFMD regulation places fund managers with increased responsibility when managing assets, solutions which help ease the process will be increasingly essential. AIFMD/Command is currently available on the Drooms platform, and will allow customizable and easily accessible ways for fund managers to access essential documents.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would