Confidential file

SEI completes first Form PF filing for hedge fund client

SEI has completed its first Form PF filing on behalf of a global, multi-billion-dollar hedge fund client.

SEI files the Form electronically as part of its multi-faceted Form PF service, designed to help managers ease the time, infrastructure, and expense burdens related to managing the volumes of information necessary to complete the regulatory filing.

The complexity and in-depth nature of the filing has driven many fund managers to seek outside expertise and support to meet their Form PF obligations. 

Form PF, which last October was jointly adopted by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), requires registered investment advisers to report an unprecedented amount of information – ranging from liquidity levels, counterparty reporting, and portfolio company statistics to performance statistics, VaR, and collateral data.

SEI’s Form PF solution was designed to help firms managing private funds efficiently gather, aggregate, review and verify information in an auditable, timely, accurate, and consistent manner, transforming Form PF into a review and file process as opposed to purely data collection and management.

“We developed a comprehensive Form PF solution that caters to the individual needs of our alternative fund clients, while eliminating the cost and resource strain that filing would place on their businesses,” says Jim Volk, chief accounting officer and chief compliance officer, SEI’s investment manager services division. “Our goal is to provide solutions that help our clients focus on what they do best - managing their assets and servicing their clients.”

SEI’s Form PF service offering is available to all of its investment manager services clients managing at least USD150m in private fund assets.

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