AVEGA Capital Management
About AVEGA Capital Management
AVEGA Capital Management S.A. (ACM) is a partner-owned third-party Alternative Investment Fund Manager (AIFM), specialized in private markets. Acting as a regulated manager in compliance with the Alternative Investment Fund Managers Directive (AIFMD) ACM offers asset managers, banks, pension funds, insurance companies and corporates access to regulated funds within the Luxembourg market. Additionally, ACM facilitates access to an EU marketing passport for professional investors. For this case, we spoke to Jens Holzhäuser, Managing Director of ACM.
The AIFMD Annex IV reporting challenge
As a long term user of the Matterhorn tool, Holzhäuser has been involved with AIFMD Annex IV reporting software for years. He learned about the Annex IV reporting solution from Matterhorn when he was working at an Investment Fund Manager in Luxembourg. There, he had to deal with a service provider doing the AIFMD Annex IV reporting for their firm. Although they were paying a premium, the process turnaround time didn’t meet their expectations. For example, when there was a small problem with the quality of their data, they sometimes had to wait for days before their service provider was able to resolve the issue.
When Holzhäuser discovered Matterhorn, he felt it was easy to insource the Annex IV reporting and be in control of the entire process. His goal was to become less reliant on the external partner for AIFMD Annex IV reporting.
Later Holzhäuser started working at a technology concern where he started offering AIFMD Annex IV reporting as a service to the current client database. He grew the AIFMD Annex IV reporting team and had to submit more than 1.200 AIF(M) reports per year. They needed a robust solution to solve the AIFMD Annex IV reporting challenge.
The solution
With the AIFMD XML filing software from Matterhorn, Holzhäuser and his team managed to leverage their inhouse expertise and be in control of the entire process. The data validation during data import combined with the automated checks for completion gave Holzhäuser confidence he was doing the reporting right. For safety reasons, Holzhäuser only used the solution for 10% of their clients at first. When they discovered how easy it was to use the AIFMD Annex IV reporting template from Matterhorn they were confident to report with Matterhorn’s Annex IV software for the entire client base.
The result
Holzhäuser maximized the firm’s profit by implementing a more cost-effective and efficient tool for AIFMD Annex IV reporting. From the first time he started doing the reporting inhouse, the firm became independent and didn’t have to rely on the service provider for their Annex IV transparency reporting anymore.
“It feels good to be in control of the entire process. We worked more efficiently and saved time on the turnaround, and therefore we could allocate our resources better. Ultimately, we reduced the operational risk of outsourcing the process and saved a considerable amount of money.”
Why Matterhorn
“Matterhorn has always been very responsive.They gave us the comfort that we needed because they are very much into the AIFMD Annex IV topic. When I needed some specific controls, Tijs could easily implement them.”