About AVEGA Capital Management
AVEGA Capital Management S.A. (ACM) is a partner-owned third-party Alternative Investment Fund Manager (AIFM), specialized in private markets. Acting as a regulated manager in compliance with the Alternative Investment Fund Managers Directive (AIFMD) ACM offers asset managers, banks, pension funds, insurance companies and corporates access to regulated funds within the Luxembourg market. Additionally, ACM facilitates access to an EU marketing passport for professional investors. For this case, we spoke to Jens Holzhäuser, Managing Director of ACM.
The AIFMD Annex IV reporting challenge
As a long term user of the AnnexIV application of our partner Matterhorn, Holzhäuser has been involved with AIFMD Annex IV reporting software for years. He learned about the Annex IV reporting solutions from ComplianceWise when he was working at an Investment Fund Manager in Luxembourg. There, he had to deal with a service provider doing the AIFMD Annex IV reporting for their firm. Although they were paying a premium, the process turnaround time didn’t meet their expectations. For example, when there was a small problem with the quality of their data, they sometimes had to wait for days before their service provider was able to resolve the issue.
When Holzhäuser discovered ComplianceWise, he felt it was easy to integrate the Annex IV reporting solution in their process and be more in control of the entire process. His goal was to become less reliant on the external partner for AIFMD Annex IV reporting. And in that he succeeded by submitting around 1.200 reports a year in a cost effective way.
When Holzhäuser started working at Avega they needed a robust solution to solve their AIFMD Annex IV reporting challenge which would be ready for future growth.
With the AIFMD XML filing software from Matterhorn and supported by ComplianceWise, Holzhäuser and his team managed to leverage their inhouse expertise and be in control of the entire process. The data validation during data import combined with the automated checks for completion gave Holzhäuser confidence he was doing the reporting right. After the free trail phase, all our clients are able to have a free trail, they discovered how easy it was to use the AIFMD Annex IV reporting template and they were confident to report with the Annex IV software for the entire client base.
Holzhäuser maximized the firm’s profit by implementing a cost-effective and efficient tool for AIFMD Annex IV reporting. From the first time he started doing the reporting inhouse, the firm became independent and didn’t have to rely on the service provider for their Annex IV transparency reporting anymore.
“It feels good to be in control of the entire process. We work more efficiently and save time on the turnaround, and therefore we could allocate our resources better. Ultimately, we reduce the operational risk of outsourcing the process and save a considerable amount of money.”
“ComplianceWise has always been very responsive. They gave us the comfort that we needed because they are very much into the AIFMD Annex IV topic. When I needed some specific controls, ComplianceWise could easily implement them.”