Form N-PORT

Understanding Form N-PORT


Form N-PORT, part of the SEC Modernization reforms, became effective January 2017. It enables the SEC to evaluate risks to particular funds or sectors, as well as risk across the fund industry.

Form N-PORT replaces Form N-Q and requires U.S. Registered Investment Companies to report risk analytics on fund portfolio composition. Funds must submit the new monthly report in a structured data format similar to Form PF (private fund reporting). The SEC requires the new format because new fund types and increased use of derivatives have added risks to fund strategies that weren’t effectively captured in Form N-Q.

WHO is affected by Form N-PORT?

Registered Investment Companies (RICs) and Exchange Traded Funds (ETFs) organized as Unit Investment Trusts (UITs), except money market funds and Small Business Investment Companies (SBICs).

WHEN are new compliance dates?

  • June 1, 2018, for RICs with funds greater than or equal to $1 bil. in net assets. The first filing deadline is July 30, 2018.
  • June 1, 2019, for RICs with funds with less than $1 bil. in net assets. The first filing deadline is July 30, 2019.

WHAT does N-PORT mean for you? 

Increased complexity of calculations, data sourcing & aggregation

  • Some required calculations, such as portfolio-level analytics related to duration and monthly returns attributed to derivatives, are both challenging and time-consuming

  • Required filing information comes from multiple data sources, including financial intermediaries

  • Certain data, such as liquidity risk levels, may not be readily available

The danger of delaying

  • Funds without an effective reporting solution will spend significantly more time collecting data and filing reports

  • Funds will need to invest significant time and money to involve and educate multiple departments

  • Rapidly hiring or training more reporting team members may become necessary

How Axioma Can Help


We work with all the top fund administrators to manage all aspects of regulatory filings. We do the heavy lifting for our clients by pairing our robust platform with specialized managed services, which ensures regulatory reports are filed smoothly on time, every time.

Aggregating and managing your data, freeing your team to focus on more strategic efforts

Our experienced team assists clients to collect data from all sources, including prime brokers, custodians, shadow accounts and order management systems.

Our data console and logic engine ensure all necessary data, including your client-defined calculations, are loaded, validated, and calculated according to Form N-PORT requirements.

We provide customized workflows that work the way you work

Our highly-qualified reporting specialist team works with you to build a custom ETL (Extract, Transform, and Load) process. We also store your workflow and data, which makes it painless to update your information for next month’s filing.

Our integrated technology improves communication and transparency across your firm

Axioma Reporting Solutions goes beyond time savings and reporting efficiencies. Our platform enables enhanced transparency through robust audit trails, exception reporting, and version control.

Our Reporting Solutions can also be integrated with our powerful multi-asset class Axioma Risk engine to ensure your regulatory reporting team uses the same data that your middle office uses to measure risk. This improves communication across your enterprise. You can instantly drill down into the underlying data and easily retrieve all stored information.


Contact Axioma today to learn how we can help you solve your Regulatory Reporting challenges.

 

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