25 March 2021

Kneip named as TURN solution partner

TURN members will have access to Kneip’s products providing simplified access to MiFID data.

Kneip is today announcing that it is being named as a TISA’s Universal Reporting Network (TURN) solution partner. The introduction of solution partners, including Kneip, will now provide value-add services, investor disclosure, publication as well as fund distribution solutions for asset managers and distribution businesses using TURN.

Kneip joined TURN as a founding member in October 2020 as part of its mission to enable asset managers to stay compliant and to play an active role in initiatives that support the effectiveness of the fund industry. TURN is a blockchain tool to aggregate and provide access to fund-related data, this partnership provides its members with additional access. TURN members will now be able to utilise Kneip’s products and request RFPs. This will assist asset managers with market compliance, reduce regulatory and operational costs, and provide a better service to investors.

Kneip is also activating its authorized channel to TURN for clients to make their EMT data available to other businesses via TURN. This supports the larger industry initiative to encourage greater access to MiFID data and ensures industry wide transparency and compliance.

Currently, this exchange of information is inconsistent and firms can struggle to obtain all the data they need from other firms to enable disclosure of all costs or to verify the target market of a product. TURN and Kneip’s partnership ensures increased transparency of funds for them to be more easily and accurately profiled and accessed. This will allow for better comparison between funds on both the genetic make-up of the fund and its costs.

The availability of more transparent profiling is in response to demands by retail investors and TURN’s scope is now widening to include EMT, EPT, EFT, ESG, Fund Static Data, Corporate Actions/Dynamic Data and Fund Pricing. Throughout 2021, members will see further enhancements that will be a result of the industry defining the future strategic path.

Ulf Herbig, Head of Product at Kneip, said: “At Kneip we are determined to solve our clients’ problems and recognise how valuable it is for the industry to come together and make it easier for asset managers to comply with the ever-changing regulation and to make fund distribution more effective. As a founding member of TURN, Kneip sees that such an initiative is a great step in the right direction.

By joining the panel of solution providers for value-add services, we know this is a brilliant opportunity to ensure greater collaboration within the industry. Kneip is delighted to be a part of it and look forward to the next step in our journey with TURN.”

Gary Bond, CEO of TURN, said: “Timeliness and accuracy are consistent issues which TURN can resolve. We’re delighted that Kneip has been named as a solution partner and know its platform, will provide users with a flexible and more personalised service to better suit their needs. This approved panel of providers will make TURN, an industry run not-for-profit, the go-to partner for the European asset management and distribution industries across Europe.”

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