CACEIS is partnering with regulatory technology specialist AlphaOmega to offer the service.
CACEIS, the asset servicing group of Crédit Agricole and Santander, is adding a reporting service for Packaged Retail Investment and Insurance-Based Products (PRIIPS) via the Connect Store for clients of CACEIS’s private equity real estate solutions business line.
PRIIPs “refers to a category of financial assets that are regularly provided to consumers in the European Union (EU) through banks or other financial institutions as an alternative to savings accounts. For regulation’s sake, the category is intentionally broad and is intended to cover all packaged, publicly marketed financial products that have exposure to underlying assets — stocks, bonds, etc.—that provide a return over time, and have an element of risk,” according to Investopedia.
The Connect Store is CACEIS’s online marketplace for clients that want solutions from selected fintech partners, officials say. The service will be facilitated by CACEIS’s partnership deal with regulatory technology specialist AlphaOmega.
AlphaOmega will yield Key Information Documents (KIDs) for CACEIS clients that are managing private assets,” officials say. “KIDs include cost and fee calculations as well as risk and performance assessments in accordance with the European PRIIPs regulation that came into force in January 2023. AlphaOmega gathers data, performs the calculations, and then generates and disseminates reports, which are also available via its own web portal.”
AlphaOmega is a Luxembourg-based provider that offers investment management firms support covering the entire fund life cycle, “including fund registration, regulatory reporting and dissemination services,” according to the announcement. “AlphaOmega produces over 500,000 regulatory reports annually for more than a hundred clients.”
CACEIS serves asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients, officials say.
CACEIS, which has offices across Europe, North and South America, and Asia, offers services for execution, clearing, foreign exchange (FX), securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services.
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