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SEI introduces functionality tools for UCITS IV

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Leading hedge fund administrator SEI this week launched a set of online tools to help managers meet new requirements under the UCITS IV Directive.

Leading hedge fund administrator SEI this week launched a set of online tools to help managers meet new requirements under the UCITS IV Directive. The web-based application provides a standard template layout to facilitate the process of putting together KIID documents, whilst at the same time offering a level of functionality that lets managers create their own unique look and feel. SEI’s online solution will not only simplify the process but also enhance its portfolio compliance monitoring system. SEI will also help managers write and transcribe the KIID, if necessary, into the local language where the funds are being marketed to retail investors, as required under UCITS IV regulations. SEI has enhanced its portfolio compliance monitoring system which automatically tests UCITS investment restrictions by relying on a bank of nearly 100 tests and benchmark comparison functionalities.

The system enables managers to determine risk and exposure thresholds on daily positions and deliver them in summary and detailed reports. “The increased depth of regulation under UCITS IV and amount of preparation required to produce KIID documentation within a limited timeframe can be an additional burden to fund managers, so we sought to streamline and automate the process as much as possible. By enabling managers to enhance and consolidate their compliance oversight and controls, they are in a better position to satisfy not only regulatory requirements, but to also provide additional comfort to current and prospective investors,” said Phillip Masterson (pictured), SEI senior vice president and head of business development, Europe. SEI manages USD180billion in assets and administers USD250billion (as of 30 June 2011).

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