Fund Management Reporting
Fund Management Reporting
The Alternative Investment Fund Managers Directive (AIFMD) includes the rules governing funds that are not UCITS, including hedge funds, private equity funds, and real estate funds. The Money Market Fund Regulation (MMFR) sets out the regulatory framework aimed at ensuring the stability and integrity of money market funds. Under each of the frameworks a number of data reporting obligations have been established.
Alternative Investment Fund Managers reporting instructions and XML Schema
The AIFMD requires detailed reporting to the competent authorities, including information in relation to principal markets on which an AIFM trades, instruments traded, principal exposures, important concentrations, illiquid assets, special arrangements, risk profiles, risk management systems, stress testing results, a list of all AIFs managed, leverage in the AIFs and sources of leverage.
ESMA published its final guidelines on the reporting obligations for Alternative Investment Fund Managers (AIFMs) on 8 August 2014 to provide clarifications on the information that AIFMs must report to national competent authorities (NCAs) who will subsequently transmit it to ESMA to ensure effective supervision within the Union. ESMA has also issued a Q&A document on the Application of the AIFMD which provides further detail on the AIFMD requirements including the reporting and disclosure provisions. This document is updated as new questions arise.
ESMA also developed IT guidance that complement the information included in the Guidelines so that managers of AIFs have all the necessary information to fill in the reporting template they will send to their competent authority, as specified under articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD. Each AIFM should contact directly the NCAs to know how the filling of the AIFMD reports will be handled at national level.
ESMA’s reporting instructions aim to specify the exchange of AIFMD reports between the managers of AIFMs, NCAs, and ESMA.
- Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD;
- Questions and Answers (Q&As) (updated on 04 December 2019);
- Technical guidance and Schemas (updated on 22 September 2014);
In case of any question, please contact ESMA Support
Money Market Fund reporting instructions and XML Schema
The requirements of Article 37 of the MMFR regulation and related technical standards oblige the managers of MMF to submit a detailed list of information to national competent authorities (NCAs) who will then transmit the information to ESMA. The information will be included in a central database, with the objective of ensuring ensure effective supervision within the Union.
The first reports by the managers of MMF under the MMF Regulation should be submitted in September 2020, when they will have to report quarterly reports for both the Q1 and Q2 reporting periods.
ESMA developed the Guidelines and IT guidance that complement the information included in the technical standards so that managers of MMFs have all the necessary information to fill in the reporting template they will send to the competent authority of their MMF, as specified in article 37 of the MMF Regulation. Each manager of MMF should contact directly the NCAs to know how the filling of the MMF reports will be handled at national level.
ESMA’s reporting instructions aim to specify the exchange of MMF reports between the managers of MMFs, NCAs, and ESMA.
- Final report on reporting under MMFR;
- Reporting Instructions (updated on 04 December 2020);
- Validations (updated on 04 December 2020); and
- Schemas (updated on 04 December 2020)
These documents replace the ones published for the first time in July 2019 as a footnote in the executive summary of the final report on MMF Guidelines on reporting. This footnote has been updated and now refers to the same set of amended documents.