Sharp-eyed fund oversight and delegation control

DIAMOS FundControl

Ease your regulatory burden!

Regulatory requirements in the UCITS world are getting stricter – also in Luxembourg.

In connection with the CSSF circular 12/546 a special focus was given to management companies who have delegated their fund administration to third parties.

The CSSF clearly prohibits ManCos to delegate the monitoring and control of delegated activities under any circumstances. On the other hand ManCos are obliged to have an oversight of their investment funds at any time by electronic means.

DIAMOS FundControl is your solution to support the delegation control. It gives you the freedom to concentrate on your core business while fulfilling your regulatory obligations in an efficient and reliable way.

Automated NAV control:

  • Comprehensive and reliable automation of your NAV validation that takes holdings, transactions, outstanding shares and benchmarks into consideration
  • Transparent presentation of validation results including dashboards and traffic-light-overviews
  • Flexible rule engine to define your individual validation routines – including monitoring functionalities and intuitive rule editor

Monitoring of your administrator’s Service Level Agreement (SLA) / Key Performance Indicator (KPI):

  • NAV success / error reports and statistics
  • NAV delivery time reports and statistics
  • Monitoring and reporting for individually definable periods
  • Automated reconciliation of holdings for all asset classes
  • Automated reconciliation of transactions and cash accounts

 

Automated Validation of data consistencies and other  relevant fund accounting data (e.g. validation of market prices, use of foreign exchange rates)

  • Precise reconciliation between imported and self-calculated fees and commissions
  • Flexible support of new market requirements – e.g. concerning the Financial Transaction Tax (FTT)

Optimized monitoring

  • Checks can be performed for each order status within an order cycle – from pre-trade to ex-post
  • Pending trades are included for pre-trade checks
  • Reliable limit monitoring with thresholds (traffic-light status) and escalation management
  • Audit-proof handling and documentation of breaches

Full transparency

  • Look-through functionalities simplify allocation and monitoring of complex instruments/rules
  • Extensive analysis capabilities
  • Quick identification of breaches in context with alternation of holdings
  • Detailed presentation of limit utilizations and breaches
  • Automated data exchange between all involved business partners and systems
  • Handling of all standard interface formats such as SWIFT, FIX, XML, CSV, TXT, fixed length, databases, Word documents, Excel, PDF, etc.
  • New interfaces can be configured without having to adjust the software
  • Audit-proof data storage with complete history
  • Paperless-review-concept: Reconciliation information can be directly accessed at all times by the invoveld departments
  • 4-eye principle functionality adjustable on workflow level
  • Intuitive entry screens and user-guided processes
  • Convenient functionalities such as synchronous scrolling and comprehensive search filter options to facilitate navigation of data and calculated results
  • Drill downs & drill throughs for fast tracking resolution
  • Consolidated summary of results across all reconciliation types
  • Transparent presentation of results to provide on the spot indentification of issues per MIS monitoring including dashboard, traffic-light-views, statistics charts
  • Custom reports are available on demand
  • DIAMOS FundControl is based on our DIAMOS system platform that provides a flexible architecture
    with highly configurable interfaces. It allows efficient system integration and functional scalability according to your individual needs. At any time you can use the comprehensive basic functionalities of the platform such as multi-lingual / multi-currency capabilities and 24/7 system availability.
  • Providing of client approved “ready to use“ standard configuration
  • Seamless connectivity to all standard (fund accounting) systems
  • Future-proof due to the consistent use of established open standards
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CSSF circular 12/546: Fund oversight & delegation control survey

In the context of our survey we asked Chapter 15 ManCos (Luxembourg) if they are prepared for the new requirements.

Benefit from more information on the subject: If you are interested in the results please send an e-mail: contact@diamos.com

Are you ready for fund oversight & delegation control?

  • Do you know whether your NAV is always calculated correctly?
  • Do you know whether your NAV is delivered on time?
  • Do you monitor your fund manager’s pre-trade and post-trade investment compliance checks and their incidents?
  • Do you have full control of the fee and commissions charged to the UCITS?
  • Do you have secondary monitoring systems in place to control your fund administrator?
  • Are your controls audit-proof?
  • Did you already automate your workflows with electronic systems?

Free of charge & without obligation

Get to know our solution and contact us for a WebEx-session or a personal presentation. We look forward to designing your customized product and service solution: Your contact to DIAMOS