Pioneer Austria Application Architecture

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Reducing Costs and IT Development by Using an Open XML Data Format for Exchanging Fund Data

Peter Raffelsberger

IT Architect

Pioneer Investments Austria

Dr. Carsten Lüders

Director

BVI Bundesverband Investment und Asset Management e.V.

Content of this presentation

Extended list of requirements

Situation before introduction of FundsXML

Situation after introduction of FundsXML

Usage of FundsXML in Austria

Usage of FundsXML in Germany

History and organisation of FundsXML

TSAM FundsXML | March 2014 | Page 2

Extended list of requirements

We have to meet new legal reporting requirements

I need a detailled break-down for external subfunds

Can we deliver fund data in a standardized format ?

We need transactions and subs/reds on a daily basis

We need risk figures and detailled data of embedded derivatives

Can we support complex fund-of-fund or master-feeder constructions ?

We want to reduce shadow accounting

How to ensure data quality for duzens of external data sources ?

TSAM FundsXML | March 2014 | Page 3

Situation before introduction of FundsXML

Hundreds of different interfaces in production

High costs for development and maintainance of interfaces

Time consuming data quality process

High error rate caused by different date and number formats

Difficult handling of optional fields

Problems with different interpretation of specific fields

No automated data format check possible

TSAM FundsXML | March 2014 | Page 4

Situation after introduction of FundsXML

Dramatic reduction of interfaces in production

Much lower costs for development and maintainance

Simple and efficient data quality process

No more errors caused by different date and number formats

Very easy handling of optional fields

Clear usage of fields as documented in xml schema

Automated data format check

TSAM FundsXML | March 2014 | Page 5

Usage of FundsXML in Austria

Data of all Austrian funds avaliable in FundsXML format

(NAV data, holdings, transactions, subs/reds, security data)

Usage of FundsXML format for legal reporting to OeNB

Web Fund Data Portal of OeKB:

- Single place for exchange of fund data

- Advanced access control

- Downloading and uploading of data can be fully automated

TSAM FundsXML | March 2014 | Page 6

USAGE OF FUNDSXML IN GERMANY (I)

Delivery of all asset and investment management information to BVI

The managing directors of investment and asset management companies of BVI members, decided in 2008 to use the standard FundsXML for the data delivery to BVI. BVI collects data to produce different kinds of market statistics.

The data delivery via FundsXML includes:

All kinds of static fund information (for example identifier, date of issuance and liquidation, fund classification, for institutional funds kind of investor)

Flow figures like gross and net sales as well as assets under management and assets under administration of more than 11,000 funds

Portfolio composition and other detailled information of real estate funds, which represent more than 10 per cent of the German retail investment fund market

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USAGE OF FUNDSXML IN GERMANY (II)

Delivery of all asset management and investment management information to BVI

Company data with regard to the different services provided (like assets managed and assets under custody)

TER and performance fees

Price and dividend information necessary for performance calculation

Data about pension provision programs

The data collecting does include not only the information of companies issuing products in Germany, but also of foreign companies offering products to the German market.

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USAGE OF FUNDSXML IN GERMANY (III)

Distribution of Data

Investment companies use FundsXML for the distributon data to

-

Data vendors

-

Distribution partners

-

Externally hosted websites via content interface

The Data mainly consists of

-

-

-

-

Daily prices

Full holdings

Basic fund data

Reporting data

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USAGE OF FUNDSXML IN GERMANY

Plans

Data collection of AIFMD products, which are not part the existing data collection (like closed ended funds, private equity)

Supporting legal reporting requirements by enabling the standardized exchange of data between market participants (like portfolio structure of funds of funds)

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FUNDSXML HISTORY (I)

From a national solution to a European standard

2001: Leading German investment companies start the initiative:

Allianz Global Investment, COMINVEST (now Allianz Global Investment), CREDIT SUISSE

ASSET MANAGEMENT, DEKA, DWS, UNION INVESTMENT

Supported by:

Vontobel und K&W Software AG aus der Schweiz

The asset management company and data provider FERI TRUST

2003: BVI, the German investment and asset management association, supports FundsXML as data delivery standard

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FUNDSXML HISTORY (II)

The next members

2006

2007

2008

2009

2010

2011

2012

VÖIG, the Austrian Investment Management Association, the

Österreichische Kontrollbank (OeKB) and the Erste Sparinvest

Robeco

DIAMS (jetzt FundsXML France)

The Danish Investment Association IFR (represented by the data provider

FundConnect)

La Banque Postale Asset Management, Paris

AFG, the French investment management association

FINESTI (now Fundsquare), Luxemburg

KNEIP, Luxemburg

AXA France Investment Managers

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FUNDSXML HISTORY (III)

EFAMA supports the use of FundsXML

May 2013 EFAMA recommends the use of FundsXML as the standard for the delivery of Fund Processing Passport (FPP) information

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FUNDSXML AS A BRAND

Protection of FundsXML

Since 2010 the name FundsXML is protected for 10 years by a copyright on EU-level

The copyright was applied by FundsXML France in the name of the FundsXML Standards

Committee

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FUNDSXML ORGANISATION

The FundsXML Charta defines a minimum of structure and procedures

The FundsXML Standards Committee (FSC) is the highest decision-making body, especially responsible for essential changes of the FundsXML schema

FSC also decides about the appointment of working groups for special subjects to advance and promote FundsXML

FundsXML Working Group Content/Technique

Subworking Group Data Dictionary

FundsXML Working Group Promotion

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FUNDSXML CURRENT SITUATION

The latest version 3.0.7 can be used for:

Reporting obligations concerning Basel II

Shadow accounting

An extended data base for sales purposes

Reports to data providers like Thompson Reuters, Bloomberg, Morningstar, FundConnect,

Fundsquare

Fund Processing Passport

Key Investor Information Document

The data delivery to the central banks in Germany and Austria

Data delivery for all BVI statistics

Reporting for the Austrian Web Fund Data Portal of OeKB

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VIELEN DANK

FÜR IHRE AUFMERKSAMKEIT

Dr. Carsten Lüders

Director

Fon +49 69 15 40 90 224

[email protected]

www.bvi.de

Peter Raffelsberger

IT-Architect

Fon +43 1 33173 4314

[email protected]

www.pioneerinvestments.com

BVI

Bundesverband Investment und Asset Management e.V.

BVI Berlin

Unter den Linden 42

10117 Berlin

BVI Brüssel

Rue du Commerce 20

– 22

1000 Bruxelles

BVI Frankfurt

Bockenheimer Anlage 15

60322 Frankfurt am Main

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