Enhancing Efficiency and Compliance: Streamlining PRIIPs KID Production with Zeidler Group’s Integrated Solution
25th October 2023
Discover how an asset management firm optimized its PRIIPs KID production process by partnering with Zeidler Group, a pioneering integrated solution provider. This case study explores the challenges faced by the firm, the decision to collaborate with Zeidler, and the significant benefits gained from outsourcing the PRIIPs KID production and management to Zeidler.
The Client’s Background
An asset management firm overseeing an Umbrella UCITS structure with multiple sub-funds and share classes encountered substantial hurdles in the production and management of their PRIIPs KID suite. The existing process included the involvement of several providers for legal drafting and review, document production and generation, translation management, data sourcing, calculations, and regulatory filings. This intricate set-up led to coordination issues which impacted various workflows, calculation inaccuracies, and heavy administrative burdens.
The asset manager’s approach faced the following challenges:
- Coordination Challenges: Juggling multiple providers for various PRIIPs KID aspects led to time-intensive coordination and follow-up efforts.
- Inaccurate Calculations Outputs: Inaccurate calculations by not using the correct historic time series in-line with the PRIIPs Regulations; unnecessary time spent trying to rectify issues and implement the resolve.
- Inflexible Data Format and Onerous Onboarding: The previous PRIIPs KID producer insisted on the delivery of information in a specific, prescribed data format, burdening the client’s team and requiring client time and resources due to their involvement in the onboarding process including data provision.
Seeking an Alternative
In search of a more efficient and streamlined process, the asset manager explored alternative solutions to streamline PRIIPs KID production and ensure their compliance with the applicable Regulations and supplementary guidance.
Choosing Zeidler Group
After a thorough evaluation, the asset manager selected Zeidler Group, a premier service provider for asset managers offering a fully managed PRIIPs KID production service.
Zeidler Group’s Integrated Solution:
Zeidler Group’s solution addressed challenges and offered an efficient, integrated approach:
- Legal Expertise: Zeidler’s legal counsel managed the legal drafting and review of KIDs, ensuring regulatory compliance.
- Outsourced Onboarding: Zeidler’s reporting team fully managed the onboarding, mapped client data and reduced the demand on client input which was previously impacting their resources;
- Flexible Data Handling: Zeidler’s platform ingested client data in their preferred format and ingestion was mapped at a bespoke level which eliminated rigid templates.
- Accurate Calculations: Zeidler’s platform featured robust and reviewed calculation mechanisms for accurate performance scenarios, transaction costs, and SRI.
- Efficient Translation: Zeidler’s platform seamlessly integrated with translation agencies, optimising the translations process and reducing ongoing client costs.
- Streamlined Co-ordination: Zeidler consolidated processes, simplifying co-ordination the different element including legal, document production, translation management, calculations, and KID filings.
- Comprehensive Integration: Leveraging client data, reconciling document production and management to Zeidler and migrating their PRIIPs KIDs enhanced operational efficiencies and increased capacity within the client’s organisation.
- Cutting Edge Solutions: With a focus on technology the client could avail of Zeidler’s unique and dynamic PRIIPs KID URL solution.
Transitioning to Zeidler’s solution yielded several benefits:
- Time Savings: The client re-directed efforts from coordination, project oversight, and administrative PRIIPs-related items to strategic tasks.
- Accuracy: Zeidler’s experience in document production enhanced consistency across the client’s document suite and the calculations engine ensured compliant PRIIPs KID outputs.
- Efficiency: The integrated, dynamic Zeidler Swift platform streamlined the entire process, from legal drafting to regulatory filings.
- Flexibility: Zeidler’s solution adapted to the client’s data preferences, minimising administrative burdens.
- Comprehensive Service: Zeidler’s expertise extended beyond PRIIPs KID production, enhancing overall value to the client.
Conclusion: Embracing a True End-to-End Solution
Partnering with Zeidler Group transformed the asset manager’s PRIIPs KID production. Outsourcing to the integrated solution eliminated coordination challenges, improved accuracy and consistency, and increased the client’s operational efficiency. With Zeidler’s expertise, the asset manager could focus on core business tasks while ensuring a seamless PRIIPs KID production and regulatory compliance process.
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