BNP Paribas Bows UCITS IV-Impact Simulator for Asset Managers
BNP Paribas Securities Services unveiled its new pre-KIID synthetic risk and reward indicator (SRRI) simulator that takes into account the impact of complying with UCITS IV regulation, which takes effect in July 2011.
Under the new rule, asset managers must present a risk and reward disclosure, or SRRI, which is based on historical volatility data, and is administered prior to the presentation of a Key Investor Information Document (KIID) report.
"UCITS IV is a transforming event for the asset management industry," says Margaret Harwood-Jones, head of asset manager clients at BNP Paribas Securities Services, in a statement. "With our pre-KIID SRRI simulation pack, as well as the previously announced KIID-compliant reporting pack, we are delighted to assist our clients as they gear up for this significant change."
BST's Analysis
The clock is ticking on compliance with the new UCITS rules. We have received a mixed response as to just how prepared hedge funds are, but most of the feedback hasn't sounded too good. But hopefully that's more bluster than fact.
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