Overview
KID Software for PRIIPs Manufacturers
The PRIIPs module from Financial Risk Solutions is comprised of the following components :
- Covers a wide diversity of fund offerings for PRIIPs products
including insurer mirror funds, FoFs (both internal and external),
funds with direct investments - Covers both Funds of Internal Funds and Funds
of External Collectives - Covers the RTS recalculation for FoF of historic unit prices
for the purposes of the risk indicator, performance
scenarios and costs figures - Covers regular premium contracts
- Covers product charges such as bid/offer spreads, premium
allocation charges, percentage of fund exit charges, flat plan
management charges such as policy fees and also percentage
based charges taken by unit deductions from policies - Covers fund charges
- KID figures maintained in results database with
comprehensive Analytics capabilities - Can be deployed as either cloud or on premise solution
Whilst the Key Investment Documents will be clear and easy to read for consumers (and in a pre-described format, bringing uniformity to the investment industry), the compilation of the KID is extremely complex for PRIIPs manufacturers, requiring quarterly updates to each KID based on the previous 5 years unit prices calculations using
different positions holding data.
Automated and integrated
Comprehensive data validation
Multi-option products
Cross-checks to previous results
Accuracy checks on the KID figures
Key Benefits
Boost Investment administration efficiencies, reduce operational costs and mitigate risk
- A cost-effective automated solution for the production of KIDs in a controlled environment
- Minimise dependencies on external parties
- A complete integrated PRIIPS solution covering direct funds, fund of funds and single and regular premium PRIIPs
- Provides PRIIPs manufacturers with a full audit trail of the KID production
- Data analytics on the PRIIPs dataset
- Produces additional point of sale material
- Pre and post-sale PRIIPs including KID charges calculations
- Can be deployed either on premise or as a cloud solution
Other Key Features
Asset Valuations Tax Accruals Unit Pricing and NAV Cash Allocation and Rebalancing Charges Trade Order Management General Ledger Reconciliations Self-service web portal PRIIPs Fund Performance Oversight & Audit Solvency II QRTs Solvency II Unit Matching Box Management Trustee Investment Plan (TIP) Administration Individual Constant Proportion Portfolio Insurance (iCPPI)Asset Valuations
What it does for you
- Produce lightning-fast valuations
- All major asset classes covered
- Inbuilt links to external data providers
- Exception based automation facilitates operational efficiency
- Full drill-down records of past valuations as standard
- All fund structures covered, flat, tiered and a combination of both
Tax Accruals
What it does for you
- Increase the accuracy of tax accruals with automation
- Meet TCF and ABI guidelines
- Comply with new rules for CGT tax for non-UK residents
- Improve profit analysis by aligning policyholder and company taxation
- Avoid undue credits to policyholders for tax losses
- Reduce risk with a robust audit trail
Unit Pricing and NAV
What it does for you
- Integrates with policy admin systems to capture policyholder requested fund transactions
- Market data interfaces to all major providers
- All major asset classes covered
- Full audit trail and history of records of past valuations
- Exception based reporting
- Accounting for asset disposals on the first-in-first-out or average cost basis
- Complex fund charging structures
- Allowance for UK ‘I-E’ taxation provisions for life funds
- Multiple valuations on a single date to fulfil separate requirements, e.g. regulatory reporting and unit pricing
Cash Allocation and Rebalancing
What it does for you
- Convert unit/share in Fund-of-Funds movements easily
- Synchronised timing of trade execution and unit creation
- Create new shares/units in collective funds directly from client cashflows
- Algorithmic calculation of trade orders and automatic placement of trades to market
- Implicit and explicit box management functionality for all funds
- Configurable compliance rules ensure allocations are checked before approval
- Automated Model Portfolio rebalancing and risk monitoring settings
- Manage growing fund volumes with the same human resource and cost base
Charges
What it does for you
- Automatic calculation of complex fee management structures
- Remove the risk of manual and offline charge calculations
- Display charges clearly on valuation statements
- Extensive reporting capability to meet regulatory requirements
- Comply with MiFID II cost and charges
- Calculates IDD charges and generates PRIIPs and KIDs
Trade Order Management
What it does for you
- Manage the entire trading life cycle efficiently
- Automated order management processing reduces errors
- Customisable workflows for different security categories
- Links to major trading platforms and settlement counterparties
- All trading stages and processes are user-configurable
- Alerts, rule breaches and management information analytics for increased oversight
- Scalable to millions of transactions per day
General Ledger
What it does for you
- Integrate your corporate general ledger directly to InvestPro
- Our mapping tool allows automatic syncing
- Powerful GL data available for deep analytics
- Rich controls to oversee compliance
- Increased internal risk management capabilities
Reconciliations
What it does for you
- Reduce operational risk across investment administration
- Verified asset positions for robust reporting
- Reduce risk of mismatch with daily automated bank reconciliations
- Independent checks on trading functions
- Matches multiple banks to system transactions
- Find data exceptions before they become financial problems
Self-service web portal
What it does for you
- Improve client satisfaction with easy access to their investments
- Reduce administration by giving customers and advisors the ability to manage their portfolio
- Send validated customer captured trade instructions straight to market
- Configurable access rights for secure access to the InvestPro installation
- In-built rules and a breach mechanism provide continuous oversight
- Hosted solution for reliability and scalability
PRIIPs
What it does for you
- Automate KID production in a controlled environment
- Minimise dependencies on external parties
- Covers direct funds, fund of funds and single and regular premium PRIIPs
- Exception based processing to reduce risk
- Data analytics on the PRIIPs dataset
- Produces additional point of sale material
- Pre and post-sale PRIIPs including KID charges calculations
Fund Performance
What it does for you
- A cost-effective automated solution for the production of KIDs in a controlled environment
- Minimise dependencies on external parties
- A complete integrated PRIIPS solution covering direct funds, fund of funds and single and regular premium PRIIPs
- Provides PRIIPs manufacturers with a full audit trail of the KID production
- Data analytics on the PRIIPs dataset
- Produces additional point of sale material
- Pre and post-sale PRIIPs including KID charges calculations
- Can be deployed either on premise or as a cloud solution
Oversight & Audit
What it does for you
- Meet compliance requirements and reduce financial and reputational risk.
- Pre-loaded with best-practice validation rule checks.
- Complete user control/ configuration over rule settings.
- Increase regulator, board and policyholder approval and satisfaction.
- Best of breed validation rules out of the box with easy customisation.
- Low touch, highly automated and exception based.
- Intuitive user interface makes configuration easy for all users.
Solvency II QRTs
What it does for you
- Automatic production of the asset QRT reports
- Integration with market data providers
- Integration with look through data providers: Morningstar, Bloomberg, Thompson Reuters, Silverfinch, Fitch, Moody’s
- Production of asset data for Pillar I calculations
- Rules and workflow management for corrective action on rule breaches
- Enrichment of asset data for Pillar I SCR calculations and Pillar 3 reporting
- Generation of enriched data files for group reporting purposes
Solvency II Unit Matching
What it does for you
- Comprehensive Box Management Functionality
- Automated data import, e.g. loading unit data from outsourcers or other group systems and importing total units and unit price calculations
- Transparent reporting and analytics
- Full internal audit trail of all actions, validations and data changes
- Dashboard to monitor the process and provide reporting and controls
- Monitor mass lapse events and trigger buyback, subject to liquidity
- Create/Cancel Units to match total policyholder liability
- Extracts to downstream systems as required
Box Management
What it does for you
- Automated data import, load unit data from outsourcers or other group systems
- Full internal audit trail of all actions, validations and data changes
- Dashboard to monitor the process and provide reporting and controls
- Monitor mass lapse events and trigger buyback, subject to liquidity for Solvency II unit matching usage
- Create/Cancel Units to match total policyholder liability
- Supports unit matching, deferring or backdating appropriations, and seeding of fund
Trustee Investment Plan (TIP) Administration
What it does for you
- Stakeholders can view the latest scheme valuations and transactions (as well as historic valuations/transactions)
- Stakeholders can view charges and fees
- Stakeholders can view performance reports
- Stakeholders can track and share scheme and fund performance
- Internally users can automatically accept scheme orders, place orders in funds and import contract confirmations
- Internally users can allocate cash and administer investment rebalancing for hundreds of schemes in minutes
Individual Constant Proportion Portfolio Insurance (iCPPI)
What it does for you
- Produce lightning-fast valuations
- All major asset classes covered
- Inbuilt links to external data providers
- Exception based automation facilitates operational efficiency
- Full drill-down records of past valuations as standard
- All fund structures covered, flat, tiered and a combination of both
Schedule a Live Demo
Need more information or want to arrange a demo of InvestPro? Contact our team today and we will be happy to help!