Electrum’s automated SRRI financial reporting for UCITS fund managers’ KII documents

ELECTRUM, the leading automated documents provider, has developed a new system for producing and updating SRRI values for UCITS* funds.

SRRIs (Synthetic Risk Reward Indicator) are the crucial rating for assessing investment risk. They are contained in the new mandatory Key Investor Information (KII) document that has to be provided directly to all investors in UCITS funds from July 2012.

* UCITS are investment funds categorised as Undertakings for Collective Investment in Transferable Securities.

Examples of the SRRI standardised investment risk ratings:

  • one is minimal risk (like National Savings)
  • four is a medium risk that may fluctuate in value (for example: property)
  • seven flags serious risk (such as commodities)

The KII documents are designed to make it easier for investors to compare funds from different providers from across the EU, by standardising and streamlining the presentation of key information.

Stuart Harper, Electrum’s MD says: “Now that most fund managers have published their Key Investor Information documents (KIIDs) in readiness for the July deadline; the collective sigh of relief is almost palpable. However, many are only now discovering that the pain is not over, since the UCITS IV regulations that introduced the KIID also brought an obligation to keep the KIID up to date.

“Most of the content of the KIID needs relatively infrequent reviews, but the Synthetic Risk and Reward Indicator (SRRI) category needs constant attention. Electrum’s KiiDocs SRRI Monitor automates both the calculation and monitoring of the SRRI values to ensure that fund managers KII documents stay up to date, automatically complying with the new rules for managing UCITS.

“For example, the SRRI Monitor calculates the SRRI values weekly, tracking the calculated value of the fund against the previously published value for each fund. This information is summarised in an 'at a glance' dashboard, backed up by a weekly report that demonstrates the length of time any values of funds have strayed from the published values.”

Electrum’s SRRI Monitor provides a complete audit trail containing the entire history of all data loaded, including revisions, plus all the SRRI values calculated, with direct links back to the source data. It allows manual entry of SRRIs for exotic fund types (e.g. structured products) and users can view or download data & SRRI values for all dates and funds.

Electrum’s SRRI Monitor is a hosted application accessed using a web browser. New clients can start using it immediately as no locally-installed software is required.  Data entry is via familiar Excel spreadsheets. The all-inclusive annual fee for the SRRI Monitor is based on the number of share classes monitored. There are no set-up charges. (Electrum is at http://www.electrum.co.uk/).

ENDS. Background information follows:

Screenshots of the SRRI Monitor on request.

Background Information on Electrum (http://www.electrum.co.uk/)

Electrum is a Microsoft Gold Partner that specialises in automated document and reporting solutions for the financial services sector.

Electrum has clients in major financial centres in the UK, Europe and the US.

Established in 1998 at Edinburgh, Electrum has a 16-year pedigree in the client reporting sector, giving them with a wealth of experience in all aspects of software development and an in depth knowledge of the Financial Services Industry. Electrum’s automated solutions cut costs and timescales, assisting their clients with business process changes and business development opportunities.

Electrum products include:

Automated Documents:
High-quality solutions for print or web-ready documents in a range of formats including Office and PDF, such as:

  • KiiDocs: automation of the production of Key Investor Information Documents as part of the UCITS IV directive.
  • DocGen: Automatically create print ready professional standard documents containing text, tables and charts from spreadsheet data
  • Factua: automatic generation of print-ready fund factsheets
  • Slide Library: Automatically create and update branded, consistent PowerPoint presentations from a library of approved slides.
  • Presentation Library System: automatic generation of Microsoft PowerPoint or PDF presentations from a store of approved slides
  • Proposal Template: Produce compliant proposals from a library of approved content

Microsoft Office Templates and Add-ins:

Ranging from simple templates and add-ins to the automatic generation of large and complex documents and PowerPoint presentations, e.g.

  • Smart Templates:  brand-specific templates allow complex designed documents to be simply produced in-house using Word. A branding toolbar has buttons to automatically create complex branding elements such as tables, charts and side-bars. Plus document-specific business logic. Can be integrated into larger systems.

Bespoke Development and Consultancy:

Helping to make businesses run more efficiently, effectively and productively.

  • Expert consultancy across a wide range of sectors for clients of any size, from farmers to designers.
  • Bespoke development services, mainly web-based, using a variety of languages and platforms.

Contact: Sandy Wood, Business Development Manager, Electrum
Phone: 0131 4543507
Email: sandy.wood@electrum.co.uk
Website: http://www.electrum.co.uk