Northern Trust has announced it can now assist fund managers across the globe with the generation and maintenance of Key Investor Information Documents (KIID). This latest automated offering supports Northern Trust’s fund manager clients who under UCITS IV will be required to provide KIID for every UCITS product sold within European Union member states.
“UCITS IV will affect fund managers across the globe, and this latest service is in line with our focus on delivering solutions to help support our clients as they navigate the new regulatory landscape,” said Karen Hamilton, head of fund administration product development for Europe Middle East and Africa at Northern Trust. “Some of our clients may have thousands of KIIDs to produce during the course of each year, so automation, control and data access will be key to success.”
Northern Trust has partnered with Equipos, a leading international supplier of specialist client reporting, document management and business process management solutions for institutional and private client investors, and wealth managers, to deliver the solution. It builds on an existing solution from Equipos already in use in Northern Trust’s Investment Operations Outsourcing business.
“Through the Equipos solution, Northern Trust will be able to automate the production of KIID for their clients as well as leverage an integrated workflow tool to control the production process,” said Damian Bryan, Equipos Chief Technical Officer.
KIID aims to promote transparency and uniform standards among different EU member states and includes the following information relating to the UCITS fund concerned:
- identification of the UCITS
- a short description of its investment objectives and investment policy
- past-performance presentation or, where relevant, performance scenarios
- costs and associated charges
- the risk/reward profile of the investment, including appropriate guidance and warnings in relation to the risks associated with investments in the relevant UCITS
Northern Trust provides fund administration services to fund managers across the globe and can service the needs of traditional and alternative investment managers, often with complex fund structures and multi-jurisdictional requirements.
