MiFID II

Our MiFID Regulated Entities

EMT, EPT and EET Information

EMT

The European Fund and Asset Management Association (EFAMA) has endorsed and published the European MiFID Template (EMT), a MiFID information exchange template jointly designed by product manufacturers, such as asset managers, and distributors.

The template provides a functional description of the minimum set of data (defining a product’s target market, distribution strategy and disclosing its costs and charges) from product manufacturers, such as asset managers, to distributors to help them fulfil the new regulatory requirements. These new requirements came into effect when financial products were distributed after 3 January 2018.

EMT CSV Format

EMT Excel Format

EMT Disclaimer

 

EPT

EFAMA have also endorsed the use of the European PRIIPS (Packaged Retail and Insurance-based Investment Products) Template (EPT) as a standardised methodology for distributing PRIIPS information between investment firms and insurance entities.

The template provides a functional description of the minimum set of data (e.g. risk and performance calculations, cost and charges information etc.).

Both the EMT and EPT are in a pipe delimited .csv format since they need to be machine readable.

abrdn EMTs and EPTs are being hosted by Donnelly Financial Solutions (UK) Limited.

The file format is in accordance with FinDatEx guidelines, as a CSV file is required. The XLS format also published on the website is for your convenience. Since the implementation of MiFID II / PRIIPs we have issued an EMT and an EPT file from which you can identify those ISINs of particular interest.

Please do not hesitate to contact abrdnsupport@dfinsolutions.com should you have any questions or have comments regarding these EMT/EPT files.

EPT CSV Format

EPT Excel Format

EPT Disclaimer

 

EET

FinDatEx (Financial Data Exchange Templates), a joint structure established by representatives of the European financial services sector, has endorsed and published the European ESG Template (EET). The EET is an industry form that provides fund distributors and insurers with information on the sustainability characteristics of funds, including information required under EU regulation. The EET enables distributors to provide advice in line with their clients’ sustainability preferences, for the purpose of fulfilling ESG-related regulatory requirements contained in the SFDR, relevant provisions of the Taxonomy Regulation, and the relevant delegated acts complementing MiFID II and IDD.

abrdn EET Excel Format

abrdn EET CSV Format

EET Disclaimer

PS 17/20

With effect from 3 January 2018, in response to a request from the governance body of a relevant pension scheme, firms must provide:

• information about transaction costs calculated according to the ‘slippage cost’ methodology
• information about administration charges
• appropriate contextual information

Where firms do not have the relevant information, they must seek it from other firms, and those other firms, where they are Financial Conduct Authority (FCA) authorised, must provide the information.

 

DCPT & FVPT

A joint ABI/IA working group has developed the DC Workplace Pensions Template (DCPT) and the Fair Value mid-Price Template (FVPT) for the purpose of providing insurers with transaction costs data in accordance with COBS 19.8.4R. DCPT V1.0 was issued in December 2017 and FVPT V1.0 was issued in May 2018.

Beginning with the January 2021 data, we are sending a single combined abrdn file with the DCPT for the AAM and SLI fund ranges. This streamline follows the merger between AAM and SLI in August 2017.

No change is required on your part, you will be able to continue to filter for your required data as you do now, simply from a larger file. We reassure you that this combined DCPT will process as our previous DCPT files have; however, should you have any issues do not hesitate to contact us.

Negative transactions costs have been overwritten to zero in DCPT field 02010 to ensure compliance with FCA rules around treatment of anti-dilution mechanisms (COBS 19.8). The actual calculated transaction cost can be seen in DCPT field 02020. Guidance relating to this approach was released in the UK DC Workplace Pensions Template V1.1, issued in April 2020.

DCPT CSV Format

DCPT Excel Format

DCPT Disclaimer

FVPT Excel Format

Best Execution

Best execution means achieving the best possible result for customers when executing their orders.

MiFID II aims at achieving extensive transparency over investment firms' order execution methods. Moreover, investment firms like abrdn are required to install thorough reporting and monitoring mechanisms in order to evaluate whether the execution quality achieved corresponds to the quality promised in the Order Execution Policy (OEP).

At abrdn we have worked to produce a single OEP that applies to abrdn and the two heritage entities of Aberdeen Asset Management and Standard Life Investments.

Order Execution Policy

MiFID II Top 5 Reports

Annual publication on specific 'quantitative and qualitative' information related to the Top 5 Brokers and venues through which client orders were executed, on a per asset class and per client type basis, is required. abrdn has made this annual report available for the relevant entity below.

Aberdeen Standard Investments Ireland Limited - 2021

Product Approval Process

The product approval process is integrated into abrdn’s Product Life Cycle which governs all new fund launches and their on-going review and monitoring.

abrdn’s Product Life Cycle is centred around client needs and requirements. At the product concept and feasibility stage client analysis, in particular target market identification, forms a key part of instigating the product design and overall launch proposal to be approved by the relevant internal and external Boards/committees prior to launch.

On-going product monitoring and reviews are conducted by abrdn’s Fund Governance and Product Evaluation team.

Product Approval Process