Funds A Single Global Platform for Every Fund

Transcription

1 Funds A Single Global Platform for Every Fund Sern Tham FundSuite Multifonds Day 1 breakout

2 FundSuite is Multifonds 2 Key highlights Supplier to 9 of world s top 15 fund Servicing 9 of the top 15 fund administrators administrators 8,000 users globally Supports 25,000+ funds Supports $5trn assets Single global software platform Platform Multifonds Global Accounting +Enables fund administrators to perform key accounting functions such as intra-day valuations (IBOR) and end-of-day NAV calculations (ABOR) Multifonds Global Investor +Supports fund administrators in key investor servicing and transfer agency functions such as investor dealing and shareholder recordkeeping Operational overview Headquarters 12 offices globally Employees Luxembourg 400+ (~300 in R&D)

3 Leading Provider for Third Party Fund Administrators 3 Top 15 fund service providers Assets Under Administration (US$ billions) 1,544 1,400 1,800 2,869 3,468 6,970 9,050 SERVICING 9 OF THE TOP 15 GLOBAL ADMINISTRATORS 1, $5+ TRN ASSETS 20,000+ FUNDS Multifonds client ACROSS 30+ JURISDICTIONS (IN NORTH AMERICA, EUROPE & ASIA) Source: Global Custody 2013 Note: State Street AuA includes IFDS/BFDS

4 Solving Key Industry Challenges 4 Key drivers Complexity and cost of regulatory change e.g. FATCA, AIFMD, MiFID II Convergence of long-only and alternative funds Multifonds advantage Syndicated analysis and development across clients Long-only control and efficiency with alternatives flexibility Pressure on fees and operational costs Efficiency through workflow and exception management Need for greater risk management and transparency Ease of data access based on open Oracle-based architecture Total cost of ownership of multiple legacy systems across regions Consolidation functions across jurisdiction, asset class

5 Multifonds Global Accounting Key Updates 5 New clients MFGA - for German tax accounting MFGA and MFGI MFGA and MFGI MFGA MFGA - for consolidated insurance accounting MFGA - for US 40 Act funds Significant extensions MFGA expanded presence in Asia MFGA expanded presence in France and wider Europe New jurisdictions New functionality USA Canada Brazil Workflow Exception Manager (WEM) ETF PCF/Basket management module Portfolio Accounting / IBOR Data Model (MFDI) S. Africa Australia Contract for Difference (CFD) module OTC Clearing & Collateral Negative interest rate support

6 Multifonds Global Investor Key Updates 6 - MFGA and MFGI - MFGI New clients - MFGA and MFGI - MFGI - MFGI - MFGI Significant extensions MFGI AML, Payments and Private Equity MFGI Dashboards, Reporting extensions, NSCC connectivity MFGI Automatic processing via Workflow and Exception Manager New jurisdictions Belgium Hong Kong Mauritius New functionality Data segregation and masking Advanced Payments module FATCA reporting OECD CRS Advanced Trailer Fees/Rebates Datamart Capital calls Cash receipts matching Dividend automation

7 Product Roadmap Approach 7 Roadmap drivers Development Regulatory Client driven Strategic initiatives Financial Transaction Tax OECD Info Exchange FATCA UCITS V / MiFID II AIFMD Legacy migration Fund on-boarding Specific requests KPIs and dashboard Convergence New jurisdictions ETFs 26,000 person days per year Economies of scale of single code base across all clients Rules / parameter driven (not customized) to reduce maintenance cost Common, highly scalable Oracle architecture

8 Regulatory Roadmap FATCA 01 July 2014 Due diligence in place 31 March 2015 Reporting for Jan 2017 WHT on Foreign Pass-thru Impact on FA & GI Legend No impact AIFMD July 2014 Impl. for existing AIFM No direct impact Limited impact Large impact UK FATCA 01 July 2014 Due diligence in place 30 Sept 2016 Reporting for 2014/15 OECD Savings Dir Due diligence in place 2017 Reporting for 2014/15 1 Jan 2017 Possible start date Impact on FA & GI PRIPS MiFID II UCITS 4 th AML Dir. End 2014 UCITS V Implementation Impact on FA End 2014/Mid 2015 Implementation 2015 Implementation 2015/2016 Transposition into national law T2S 2015 Operational 2016 Implementation

9 Roadmap Multifonds Fund Accounting 9 v4.30 Jun 2014 v4.40 Dec 2014 v4.50 Jun 2015 v4.60 Mar 2016 Asset classes Contracts for difference (CFD) OTC clearing and collateral (ESMA) IRS (accruals on irregular periods; margin calculation) Negative interest on bonds and cash Accounting Workflow and Exception Manager (WEM) Portfolio accounting (integrated IBOR) ETF PCF basket management Data mart (MFDI) WEM enhanced exception details 4-eyes on fund and charge masters, pricing WEM enhanced controls IRS, collateral (FR) Reporting and interfaces BI Publisher reporting Executive KPIs Performance fees Regulatory, tax and new jurisdictions US 1940 Act funds Canadian insurance FATCA withholding tax Australian superannuation Australian tax (GST, TAFO, TOFA, etc) German tax France Lux CSSF reporting (April 2016)

10 Roadmap Multifonds Global Accounting 10 v5.0 - Sep 2016 v5.1 - Feb 2017 v5.2- Jul 2017 User experience Revamped user experience focused on daily user experience WEM integration BI Publisher reporting integration Extend new user experience coverage: factor bonds, loans, deposits, repos, DB/CR, bond redemptions, coupon processing, manual settlements, Swaps Extend new user experience coverage: corporate actions, dividends, FRA, short/cover, rights, warrants, CFD, EQS, RefIndex, trade amendments Position browser Asset class and accounting Expanded Transaction ID WEM non-daily funds Bank debt Swaps NPV valuation Non unitized, FoF Instruments Swaptions Convertible bond Private equity Strategy accounting Reporting and interfaces Pricing and reference data connector (Bloomberg, IDC, etc.) Report batching, scheduling, distribution Regulatory, tax and new jurisdictions Australia tax/superann./ibor IFRS fee incl. in yield amortisation SEC deriv disclosure (Form N-PORT) US insurance (incl. NAIC Schedule D reports) Technical Unified security framework and SSO

11 Roadmap Multifonds Global Investor (1/2) 11 v Feb 2015 v Jul 2015 v Feb 2016 v Aug 2016 Regulatory roadmap Data segregation & masking Return of value and FATCA reporting Belgian tax OECD CRS Static data extensions OECD CRS reporting support Long only driven Daily dividends enhancement FX enhancement Advanced trailer fees / Rebates Class to core Daily dividends - Alternatives driven Series of shares Fund calendar Private equity / Capital calls - Efficiency and control Cash receipt automation Workflow and Exception Manager Phase 1 Pricing Dividends automation Workflow and Exception Manager Phase 2 Pre-advice Reporting Additional BIPub reports BiPub full integration Add BIPub reports Data Mart Phase 1 BiPub distribution Phase 1 - Interfaces Dashboard and event triggered extracts NSCC Connectivity Migration tool SWIFT

12 Roadmap Multifonds Global Investor (2/2) 12 v Dec 2016 v4.90 / v Jun / Dec 2017 Regulatory roadmap ISA regulatory reporting support Irish 8-year deemed disposal automation IMR client money requirements automation* Money Market Fund Regulation MiFID 2 impacts T2S impacts Distribution support UK retail Fund distribution Italian market requirements French market requirements Alternatives driven Depreciation deposit PF EQ method Side pocket automation Master feeder automation Efficiency and control WEM - Box management automation WEM - Global Ordering dashboard AML module review Fund setup improvements ADL/SSP automation Reporting and Interfaces FCA interface Data Mart Phase 2 Swift MX integration Web Services extensions Worldcheck integration

13 Demo: Multifonds Global Accounting V5.0

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