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Cognito Europe
Claudia Coleman / Diana Alickaj
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Email: drooms@cognitomedia.com

EU-based Real Estate Funds racing to secure AIFMD transparency, risk and 3rd party NAV reporting capabilities ahead of key July date

Drooms launches AIFMD/command at MIPIM conference in response to Real Estate's need to meet AIFMD reporting requirements

  • Drooms to address key issues of AIFMD reporting requirements for real estate fund managers at MIPIM
  • Drooms AIFMD/command mitigates risk and improves transparency

LONDON, 11th March 2013 –  (Virtual Press Office) -- Drooms, the leading virtual data room provider, has launched AIFMD/command, a virtual data room solution for the large number of fund managers, particularly in the real estate industry, who are lacking the resources to comply with the incoming reporting obligations under the Alternative Investment Fund Management Directive. AIFMD/command enables documentation to be centrally stored and managed for reporting to regulators, investors and stakeholders and allows owners of complex fixed assets to be transaction ready at any time.

According to a recent survey by KPMG, 50% of fund managers feel unprepared for AIFMD and are lagging in preparations to meet the recommended implementation date in July 2013 before AIFMD takes full effect in 2014. Real estate fund managers are challenged with complex transparency and risk management pressures, and must meet the necessary documentation requirements of AIFMD to receive their 'passport' for cross-border business.

Drooms' AFIMD/command virtual data room enables fund managers to reduce market risk by ensuring their underlying assets are transaction ready. For assets that are often illiquid, as are many real estate funds, the AIFMD/command virtual data room significantly eases this process. AIFMD/command also simplifies the annual third party valuation requirements under AIFMD, providing easy access to the documentation required for NAV valuations.

Jan Hoffmeister, co-founder, Drooms, says: "Ensuring transparency and mitigating risk are key areas for fund managers to address under AIFMD. The cost and time implications that result from this are an unattractive prospect to fund managers, and Drooms' AIFMD/command has been tested as an effective, highly tailored solution. The documentation requirements under AIFMD are not exceptionally complicated, but it is essential that they are efficiently structured for assets to be managed well. It is a straightforward but necessary step for fund managers, who, if they don't comply, could find they are prevented from marketing their offering in the EU next year."

As AIFMD regulation places fund managers with increased responsibility when managing assets, solutions which help ease the process will be increasingly essential. AIFMD/Command is currently available on the Drooms platform, and will allow customizable and easily accessible ways for fund managers to access essential documents.

To learn more about AIFMD/Command, and how real estate fund managers can better prepare for AIFMD, visit Drooms' stand at the MIPIM conference in Cannes on 12-15 March.

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Notes to editors:

About Drooms
Drooms, provided by Data Rooms Services Group, is Europe's first specialist data room provider, founded in 2001 and privately owned and funded. Drooms is a global company headquartered in Switzerland with offices across Europe, Asia and South America. Please visit www.drooms.com  

 
 
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