Fund administrator Kaufman Rossin Fund Services (KRFS) has introduced a new service designed to assist SEC-registered investment advisers of private funds in meeting their Form PF obligations.
Form PF was adopted as part of a new rule which was unanimously approved by The Securities and Exchange Commission (SEC) on 26 October, 2011. This new rule will require certain advisors to private funds to report specified information about the funds they advise to the SEC on Form PF. This information will be used by the Financial Stability Oversight Council (FSOC) in monitoring risks to the US financial system.
KRFS is prepared to support clients in meeting this considerable reporting burden. KRFS maintains the majority of the core data required by Form PF. This data includes, but is not limited to, security positions, derivative positions, leverage, counterparty exposure and beneficial ownership. In addition to maintaining this data, KRFS has developed systems to address the primary challenge of Form PF, the classification and aggregation of the data. Form PF Reporting Services is available to fund administration and middle and back-office clients of KRFS.
“KRFS has invested substantial time and resources in understanding Form PF and building the necessary tools,” says Jorge R de Cardenas, co-founder and director of Kaufman Rossin Fund Services. “One significant advantage for KRFS and its clients is KRFS LIVE, a proprietary system which integrates our primary accounting applications: Advent Geneva, Advent Partner and Private Equity Office. Not only does this system provide business intelligence, workflow, reporting and investor services processing, it also provides for enhanced classification and aggregation functionality. The Form PF Reporting Services combines our experienced service professionals with the integrated functionality of KRFS LIVE to help clients meet their filing requirements while reducing the burden on their operational infrastructure.”
