MoneyMate Launches Solvency II Look-Through & Reporting Utility for the Funds Industry

MoneyMate Launches Solvency II Look-Through & Reporting Utility for the Funds Industry PR Newswire DUBLIN, September 19, 2012 DUBLIN, September 19, 2012 /PRNewswire/ -- Utility will enable asset managers to protect investment strategies while ensuring that their funds are Solvency II ready in advance of the proposed 1 January, 2014 deadline Enables insurers and their service providers to gain access to transparent, granular data from a single source and in a standardised format MoneyMate, a specialist provider of investment data management solutions, today announced a look-through and reporting utility (Fund Price & Information Exchange) which establishes data connectivity between asset managers and insurers to facilitate an effective response to the stringent reporting demands of Solvency II. The release of the utility is a direct result of the industry-wide need for insurance companies to prove they have enough capital funding to prevent them from failing. The Solvency II directive requires insurers to develop 'look-through' transparency over their investments, placing a significant reporting burden on asset managers who will be required to provide unprecedented levels of transparency on the investments of their insurance company clients. In order to retain the mandates of insurance clients, asset managers are being asked to disclose their holdings data which could reveal the investment strategies they are employing.