Time is ticking. Form PF is just around the corner.
Time is ticking. Form PF is just around the corner. (click here to access a video presentation) On 29 June 2012, large hedge fund management firms with over USD 5 billion of gross AuM became responsible for making their first quarterly Form PF filing to the SEC. A second group will face either an annual (over USD 150 million in AuM) or quarterly (over USD 1.5 billion in AuM) reporting responsibility as of 31 December, 2012.
Recognizing the data complexity of Form PF, last August fund administrator GlobeOp launched its Form PF service to help managers make these filings. The data burden on managers to meet this regulatory requirement is significant. Depending on fund size or structure, between 450 and 1600 data points across multiple categories may be required on counterparty exposures, liquidity levels, aggregate portfolio exposures, collateral arrangements and risk management data (VaR).
GlobeOp was the first administrator to offer a Form PF reporting service and is already helping large fund managers with test filings and a sustainable reporting process. By combining its operational infrastructure and data management expertise, GlobeOp gathers data efficiently and drafts Form PF reports according to SEC requirements. All data is packaged electronically for managers to review, authorise and submit – saving time and minimising internal costs.
As all funds have to be included in the final report, GlobeOp can also aggregate data from other administrators when drafting the Form PF report. Firms required to report should begin preparations immediately, to implement test runs, review the final report results and improve their understanding of the data and processes required. A further practical tip – schedule a full review of the final completed form two weeks before the first official filing date in August, to be sure all is in order. Time is of the essence!
For more information on Form PF requirements, and to access a free video presentation please take this link and complete the form.
