The AIFMD will regulate the management of the non-UCITS fund sector and the full reporting exercise consists of exposure, leverage and other fund centric figures to be reported in most cases on a quarterly basis. The reporting requirements will come into force probably in early 2014 and by July of next year at the latest. It applies to all Alternative Investment Fund Managers (AIFMs) which will need to comply with stringent reporting requirements if they are domiciled, manage funds, or market to clients in the EU. Even AIFMs located in non-EU countries are impacted if they intend to continue marketing under private placement regimes. The only exception to benefit from a light reporting regime (not a full exemption) are registered EU AIFs falling below the specified AUM thresholds.

The service offering of Deloitte and Kneip consists in the implementation of a multifaceted solution, keeping the operational and technical burden to a minimum; it encompasses the following:

• Processes designed to ensure adequate, complete and timely collection of data
• Interfaces and a data repository that allow multiple inputs and guarantee the integrity of the data collected
• Data ownership and validation functions to ensure accountability
• Dissemination of the generated reports to the relevant authorities
• The all-important coordination role across all stakeholders

In the AIFMD Reporting Factory, Deloitte will run the day-to-day activities and manage the content of the reports. Kneip will provide the underlying platform to generate and disseminate the reports to the relevant authorities.

Lou Kiesch, partner at Deloitte Luxembourg, explains, “AIFMD reporting represents a great operational, administrative, regulatory and logistical burden for AIFMs. The main objective of our AIFMD Reporting team and  Kneip is to bring EU and non-EU AIFMs a comprehensive and seamless solution  with minimal effort from their side, providing them with the comfort they are looking for.”

Bob Kneip, CEO of Kneip, adds, "Our service is built on the idea that compliance and regulatory obligations can actually promote better business. With the right technology, processes, and partners, reporting and disclosure can be managed smoothly and reliably. We are pleased at how our AIFMD association with Deloitte will enable us to enlarge the service we currently offer to asset managers and other industry professionals.”