JTC Strengthens Ability to Support Asset Managers With New EU Retail Funds Rules

Leading independent private and institutional client service provider JTC has worked with financial modelling experts in Guernsey to support international asset managers with complex new EU retail investment fund rules.

The EU’s ‘Packaged Retail and Insurance-based Investment Products’ (PRIIPs) regulations came into play on 1st January this year and introduces a number of new requirements for asset managers.

In particular, the regulations require a ‘Key Information Document’ which must contain certain calculations and information aimed at helping investors understand the key features, risks, rewards and costs of different retail products.

Working with Guernsey-based actuarial technology firm Dorey Financial Modelling, who provided key assistance in creating the figures required for the information documents, JTC has bolstered its ability to support asset managers with their compliance requirements and is now anticipating a strong pipeline of work from asset managers who require specific PRIIPS compliance support.

Matt Tostevin, Director of Fund Services, JTC, commented:

“Although the final PRIIPs regulations were published in spring 2017, the complexity of the regulations and the amount of work required caught many market practitioners by surprise and even large mainland EU and UK investment houses were unprepared for the January deadline. A large number of local practitioners and their clients have also found themselves within the scope of the regulations.

“Here in Guernsey we have an excellent track-record in supporting asset managers with complex regulatory requirements, and we have the experience and expertise to support them through PRIIPS too. The calculations required under PRIIPs, particularly in relation to risk indicators and performance projects, can be very complicated, but Dorey Financial Modelling has provided an excellent basis for the underlying calculations. Our work with them means that we are well placed to help the significant number of asset managers who are still grappling with PRIIPs with preparing their Key Information Documents.”