Murano’s Chromic Reverse Solicitation Process (Chromic RSP) enables investors and fund managers to comply with the AIFMD reverse solicitation conditions.
Chromic is an important tool to assist in the documentation process.
Chromic enables investors to receive information directly from fund managers using the service provider’s infrastructure when carrying out searches. In this process, a service provider sends an email to the investor detailing the characteristics of a fund or funds that are potentially suitable. This email contains a button which, when clicked, will generate an email that is sent on behalf of the investor (i.e. from the investor's email address) to the fund manager requesting information. The fund will then have a record of the enquiry and can get in touch with the investor.
Chromic helps all three parties:
1. Sourcing good managers is a constant challenge for the investor and this allows them to access funds that would otherwise be put off by the private placement regulations.
2. Fund managers benefit because the sales process becomes much simpler. Investors now have a way of coming to them and only do so when they are interested.
3. Service providers are able to provide a useful tool that aids in the compliance of the new regulations and establish a framework for them to offer reverse solicitation to their client.
Ole Rollag, Murano’s managing principal, says: “The release of this new program was largely a response to the recent regulatory developments within the EU. Regulation regarding reverse solicitation and the like has prompted lots of concern. We think this is a very innovative and simple solution to help all parties comply with the AIFMD and the reverse solicitation process.”