Mon, Jul 28, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

NorthPoint shares some lessons learned from Form PF filings

Thursday, March 07, 2013
Opalesque Industry Update – NorthPoint, a provider of software solutions and services for hedge funds, asset managers, and industry service providers, announced today the successful completion of the February round of Form PF submissions for a broad range of hedge funds and asset management clients.

“Form PF is an exercise for which it definitely pays to ‘measure twice and cut once.’ Since the original Form PF mandate, we have worked closely with our clients to help them navigate through this operationally challenging process – right from data collection to electronic submissions,” said Joseph Amarante, NorthPoint Managing Partner. “Based on the success that we have had with recent filings, coupled with our platform’s ability to integrate with existing systems, we are confident that our solution is the right choice for any fund looking for an extensible solution to simplify and manage the filing process.”

The NorthPoint Form PF Solution is an enterprise application and data repository assisting investment advisors to submit the Form PF filings. The solution provides easy-to-use data management tools to collect, classify, and aggregate the varied sources of data required for the filing. A rich user interface provides tools and reports to review, audit and sign-off on reporting instructions based on the fund's unique reporting elections. The entire process is monitored on a dashboard that shows the status of each section and the overall progress of the filing preparation. Filings can be prepared and submitted within the application, and all collected information is retained to provide audit trails of reported numbers.

NorthPoint offers practical insights and notes that investment advisors need to:

• Start early or it will be a fire drill around the reporting date. Funds usually misjudge the amount of time and collaboration necessary for their business units to complete a successful filing.
• Be aware that there is considerable room for interpretation in the way investment advisors complete Form PF. For many of the questions, there is no single answer. Reporting choices made now could significantly affect how funds may be viewed in future by investors.
• Create a “Form PF Working Committee” that is a cross-functional team consisting of members from different business units to facilitate communication and coordination.
• Approach the filing as a data and risk management exercise, not just a regulatory reporting requirement.
• Where possible, automate the mapping and collection of data through a Data Warehouse and automated data load functions to ensure a repeatable process and consistent filings.
• Identify a quarter for creating a ‘mock filing’ to test your data consistency and operation processes. This should cover identifying, collecting and reviewing data, along with completing the electronic submission to the production mirror site.

These broadly applicable lessons will help investment advisors be better prepared and confident when their reporting becomes mandatory.

Press release

www.northps.com

Bg

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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  4. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  5. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag