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MoneyMate launches Solvency II look-through & reporting utility for funds industry

MoneyMate, a provider of investment data management solutions, has rolled out a look-through and reporting utility (Fund Price & Information Exchange) which offers data connectivity between asset managers and insurers to leverage an efficient response to the stringent reporting demands of Solvency II.

According to the technology provider, the utility will empower asset managers to protect investment strategies, while ensuring that their funds are Solvency II ready in advance of the proposed deadline of 1 January 2014.

The platform offers insurers and their service providers to gain access to transparent, granular data from a single source and in a standardized format, MoneyMate said.

The aim of the latest capital requirements law Solvency II for the insurers is meant to hold the necessary capital reserve pursuant to the risks they underwrite.

In order to retain the mandates of insurance clients, and to employ greater transparency, asset managers are being asked to disclose their holdings data which could reveal the investment strategies they are employing.

Commenting on the induction of the new tool, MoneyMate CTO Ronan Brennan said, "Our look-through and reporting utility provides an industry-connected infrastructure and tackles the fundamental challenges for asset managers, third party administrators and their insurance clients under Solvency II: data ownership, opaque investment structures and security for intellectual property."