Thanks to new regulatory and legislative requirements, the volume and complexity of reporting have impacted the entire asset management industry, particularly for fund of funds, notes PwC.
In its report titled: “Fund of funds tax considerations: Managing investor and regulatory demands”, PwC summarizes the issues discussed at its webcast by a set of panelist including asset managers, tax and technology specialists.
Fund of Funds: Competing demands
According to the PwC report, preparation of Schedule K-1s is more burdensome and increasingly time consuming thanks to enhanced demand for information reporting and transparency. However, investors want Schedule K-1 information sooner. Thus asset managers have to confront these competing demands.
To meet these competing demands, many asset managers have started using estimated information...
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