Thu, Apr 24, 2014
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   |   
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. …And Finally – Flight attendant has passengers rolling in aisle[more]

    From Orange.co.uk: A video of a US flight attendant turning her safety talk into a comedy routine is proving a huge hit online. More than five million people have watched the clip of Marty Cobb which has her passengers rolling with laughter on a Southwest Airlines flight to Salt Lake City.

  2. Niche Investing – Wealthy investors flock to fine art funds[more]

    From Clickorlando.com: Wealthy investors looking to diversify beyond stocks and bonds are now turning to an unusual money-making vehicle -- the art investment fund. The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit. Growth

  3. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  4. University of Michigan allocates $242m to six managers[more]

    From PIonline.com: University of Michigan, Ann Arbor, invested or committed a total of $242 million to one traditional equity manager and five alternative investment funds from its $9 billion endowment. University regents approved the hire of Mittleman Investment Management to run $35 million in act

  5. Performance – Odey flagship hedge fund suffers brutal March as shorts rise, Blackstone first-quarter profit rises 30% on higher fees[more]

    Odey flagship hedge fund suffers brutal March as shorts rise From Valuewalk.com: The tide has turned for the worse for one of Europe’s best performing hedge funds. Crispin Odey’s flagship hedge fund, Odey European has suffered a 4.63% decline for the year after slipping 7.2% in March, ac