18th February 2016
Having now submitted Annex IV reporting for multiple fund managers across multiple jurisdictions we thought it was worth highlighting a few issues to consider next quarter for those in house considering submitting to a small handful of jurisdictions, writes Joe Hime, Langham Hall’s Head of Depositary.
Under the national private placement regime (NPPR), fund managers are required to submit “transparency reports” in all EU jurisdictions in which they have permissions to market a fund. Referred to interchangeably as transparency reports, Annex IV reports or AIFMD reports, the reporting framework is similar in nature to Form PF in the US and require separate reports for the fund manager and each fund being marketed.
The frequency of reporting is defined by ESMA guidelines which stipulate annual, semi-annual or quarterly reporting. This varies according to two factors: the total AUM of the funds marketed per jurisdiction and whether or not those funds are leveraged.
The reporting deadline for the period ending 31 December 2015 was at the end of January and highlighted a number of practical issues which, beyond the technical content of reports, managers need to be aware of, in particular when preparing to submit their first reports.
Langham Hall has the practical knowledge and technical experience to prepare and file AIFMD reports across the EU. For further information please contact:
Joe Hime, Head of Depositary: Joe.firstname.lastname@example.org, T. +44 (0)20 3597 7969
Langham Hall is regulated by the FCA to provide depositary and depositary-lite services. We specialise in servicing real estate, private equity, debt and infrastructure funds. Our team of accountants and alternatives specialists have been filing annex IV reports for managers based in the UK, US and Asia since the requirement first existed. We currently prepare and submit reports for managers marketing in eight EU jurisdictions. We can also assist in securing the reporting permissions from the regulators to their portals.