Global financial services provider State Street Corporation has extended its relationship with AXA Investor Managers to help meet new reporting demands that will be placed on them und
Global financial services provider State Street Corporation has extended its relationship with AXA Investor Managers to help meet new reporting demands that will be placed on them under UCITS IV. Fund managers will be expected to improve and simplify the way they communicate their UCITS fund prospectuses by reducing it to a two-page marketing document known as a Key Investor Information Document (KIID). Recognising the added pressure this will place on clients, State Street has developed what it calls an “end-to-end” full production solution: AXA IM becomes the first of its clients to use the solution. Data provision, document management and translation, risk reporting, VaR analysis, back testing and stress testing will be available to fund mangers, some of who feel that the KIID provision won’t allow them to fully reflect the risks of a given product. This new KIID service is the latest example of State Street looking at ways to better optimize their clients’ operations within the UCITS fund space. AXA IM decided to extend its relationship with them because it felt they were “best suited at this point in time to provide us with an end-to-end KIID solution”, according to Christophe Coquema (pictured), AXA IM’s global head of Markets and Investment Strategy. “State Street has the infrastructure and solutions to support our clients as they optimise their operations anticipating the requirements of UCITS IV,” said State Street’s Tim Caverly. The firm’s relationship with AXA IM dates back to 2004.
