Now is the time to get ready – key dates drawing near for PRIIPS Regulation

As PRIIPs is coming into effect on 1 January 2023, PRIIPs are required to be available for UCITS as of 1 January 2023.

How can Waystone help?

Waystone can assist with the calculation and monitoring of data, document production as well as the disclosure of performance data on the Waystone website. In practice, this can include:

• the calculation of past performances, performance scenarios, the SRI and transaction costs
• the calculation of the performance fee data (the PRIIP requirement demands an average of past performance fees)
• the disclosure and calculation of charges data, for example, the Reduction in Yield calculation
• the monitoring of the SRI and the performance scenario data
• monthly performance scenario calculation, updates and publication on the website
• calendar year performance calculation and updates on the website, including charts and disclaimers
• the setting-up of the PRIIPs to comply with the regulation and any follow up on regulatory changes

It is important to note that PRIIP and European PRIIPs Templates (the standardised methodology for distributing PRIIPs information business to business) disclosure dates and data need to be aligned.

To ensure that you comply with the regulation by 1 January 2023, asset managers will need, as of 30 June 2022, to:

• provide 10 to 15 years of historical NAV or proxy data. The exact length depends on the share class launch date and on the Recommended Holding Period (RHP),
  and
• store implicit transaction costs (the arrival prices). This data will be used by Waystone, as of 1 January 2025, to calculate the transaction cost and asset managers have been required, since 1 January 2022, to store this.

Your Waystone Relationship Manager will be able to assist you on the exact specifications applicable to your fund(s) and can put you in contact with the relevant specialised team here at Waystone. Please reach out to us, we are here to help you.