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Demystifying the fund industry - Kneip

The core mission of an asset manager is to invest people’s capital and savings into productive economic activity, allowing companies to grow by providing access to new sources of funding for their business. There are over 4,500 asset management companies operating in Europe, with around 115,000 employed directly in the industry.

Asset managers typically manage investment funds and discretionary mandates. Total assets under management have increased steadily over the years and in Q3 2021 amounted to 31 trillion (or 182% of European GDP) of which around 54.9% on behalf of investment funds and 45% in managing discretionary mandates.  Source: EFAMA

Types of funds

Funds are investment products created with the sole purpose of gathering investors’ capital, and investing that capital collectively through a portfolio of financial instruments such as stocks, bonds and other securities.

The directive on Undertakings for Collective Investment in Transferable Securities (UCITS) is the main European framework covering collective investment schemes. This category of investment funds accounts for around 75% of all collective investments by small investors in Europe.

The alternative investment fund managers (AIFM) directive covers managers of alternative investment schemes designed for professional investors. AIFs are funds that are not regulated at EU level by the UCITS directive. They include hedge funds, private equity funds, real estate funds and a wide range of other types of institutional funds.

Asset managers face 3 critical challenges today

Managing accurate data

To sell funds, asset managers have to publish accurate data and documents to potential investors and regulators in every one of their target markets. The complexity of that process often comes at a cost in resources and missed opportunities.

Keeping up with regulatory change

The asset management industry faces unprecedented levels of regulatory change. New rules around transparency and reporting mean that data management is now a business critical issue and so there is a real opportunity for firms to put their data to work for them.

Maximising fund distribution

Launching funds into new jurisdictions can be a daunting task. Ensuring that your fund data and documents are published accurately and in the most efficient way, and across all the right destinations, is critical to competitiveness.

Kneip covers all aspects of the fund life cycle

Kneip: an industry leader since 1993

Over the past 30 years, Kneip has become a leader in fund data management and reporting solutions for the asset management industry. Our teams develop solutions to remove complexity throughout the fund lifecycle and help clients manage data and ensure compliance in a changing regulatory environment. With data at the core of our solutions, clients can accelerate the production and publication of fund documentation, easily adapt to new regulatory requirements, and gain insights to further expand their distribution footprint.

The definitive guide to fund industry acronyms

Have you ever heard an acronym but you didn't know what it meant? Here is a list of the most common fund industry acronyms.

AGM
Annual General Meetings

AIFMD
The Alternative Investment Fund Managers Directive

AIFs
Alternative Investment Funds

API
Application programming interface

CEPT
Comfort European PRIIPs Template

CSV
Simple file format used to store tabular data, such as a spreadsheet or database

DCPT
DC Workplace Pensions Template

DDQ
Due Diligence Questionnaire

EET
European ESG Template

EFAMA
European Fund and Asset Management Association

EFT
Electronic Funds Transfer

EGM
Extraordinary General Meetings

EMT
European MiFID Template

EPT
European PRIIPs Template

ESA
European Supervisory Authorities

ESMA
European Securities and Markets Authority

ETF
Exchange-traded Fund

GAAP
Generally Accepted Accounting Principles

ISIN
The International Securities Identification Number

ITIL v3
The third version of the Information Technology Infrastructure Library, a globally recognised collection of best practices for managing information technology

LPT
Luxembourg PRIIPs Template

MiFID II
The Markets in Financial Instruments Directive II

MOP
Multiple Options Products

NAV
Net Asset Value

NCA
National Competent Authorities

OCF
Ongoing Charges Figure

OTC trades
Over-the-counter trades

PRIIPs
Packaged Retail and Insurance-based Investment Products

PRIIPs KID
Key Information Document

RHP
Recommended Holding Period

RTS
Regulatory Technical Standard

SFDR
The Sustainable Finance Disclosure Regulation

SFTP
SSH File Transfer Protocol: a network protocol used for secure file transfer

SIDs
Scheme Information Documents

SRRI
The Synthetic Risk and Reward Indicator

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