The European Fund and Asset Management Association (EFAMA) has launched its Fund Processing Passport Portal, providing a central access point to all existing Fund Processing Passports (FPPs).

The Portal is available to the asset management industry via the EFAMA website.

The FPP is an industry standard for the presentation of the key operational characteristics that fund promoters should provide on their investment funds to facilitate their trading. Fund managers can therefore reduce delays in processing transactions and errors in executing orders, since this information is available to the market in a fully harmonised document.

The ultimate goal for EFAMA is to achieve Europe-wide acceptance of the FPP by all relevant players involved in fund processing.

The two key guiding principles in the creation of the FPP Portal have been cooperation and reliability.

“The opening of the FPP Portal is a fundamental step taken by EFAMA in its continuing effort to strengthen industry standards for the benefit of investors,” explained Jean-Baptiste de Franssu, EFAMA president. “Fund managers, and specifically cross-border fund groups, should be pro-active in supporting this initiative, thus contributing to simplifying fund-order procession and responding notably to the European Parliament’s call to drive processing costs down.”

The FPP will deliver a higher quality of service by making it easier to place a fund order, will allow for faster processing of fund orders, reduced processing costs, and greater accessibility of standardised information. For fund distributors the FPP Portal increases the availability of all the information that is needed by fund distributors to avoid unnecessary administrative steps, reduces errors and costs, and minimises redundancy checks, delays in processing transaction and errors in executing the orders.

EFAMA will undertake a series of initiatives in close cooperation with members and the FPP Primary Providers (Finesti, France FPP (AFG), FundConnect, KNEIP, OeKB and WM Datenservice) with a view to increasing awareness of FPP’s benefits among fund distributors.

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