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Printing and Distributing Tailored Shareholder Reports

Roadmap to SEC Compliance – Part 2 of 3.

With the compliance deadline for Tailored Shareholder Reports now measured in mere months and not years, a number of mutual funds have already made significant progress on plans to satisfy the new SEC requirements. Others have not. Given the complexity of the ruling, however, all funds will need to accelerate implementation.

Less than one year until the Tailored Shareholder Report deadline, are you ready?

Our team of regulatory and operational experts has analyzed the requirements for Tailored Shareholder Reports and Form N-CSR from every perspective. With the shift from 30e-3, the printing and distributing of Tailored Shareholder Reports become increasingly complex with the requirement to send fund and share-class specific reports to each investor. Our dedicated Broadridge team is readily available to assist you in assessing your current print and distribution process and where you need to be, as well as providing detailed pricing for your options. Simply contact us for a complimentary assessment.

Evaluating the Impact on Your Fund Report Print and Distribution Process

The impact of shifting from 30e-3 notices and existing Fund Reports to individual tailored shareholder reports for each fund and share class is different for each fund family. While the industry overall may experience a seven-fold increase in the number of documents, you should start by looking at how many of your current reports combine funds and share classes and calculate how many additional documents you will need to print and distribute. Broadridge can help by creating a CUSIP analysis that shows not only how many specific documents you will need, but also how many shareholders own each fund and share class.

There are two main hurdles resulting from this change. First, determining the most cost-effective print process now that the number of documents, page counts, and quantities are changing. That includes both external costs and internal resource needs. Second, creating an engaging physical shareholder experience that continues to encourage migration to e-delivery. Some questions to consider:

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How many pages and colors will your Tailored Shareholder Report design include?

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How many new print jobs will need to be managed?

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With so many new documents, how do you create a positive shareholder experience for investors who own multiple funds and share classes?

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What are the cost implications?

Broadridge's Take on Efficient Print and Distribution

With the introduction of share class-specific reports that a shareholder can receive at one time, the ability to consolidate and household is paramount to ensure cost savings and maintain an ideal shareholder portfolio-specific experience. But, with thousands of potential document combinations, traditional machine insertion capabilities are no longer sufficient. Broadridge is focused on achieving portfolio-level communications through the ingestion of print-ready Tailored Shareholder Reports, either systematically from our automated composition tool or supplied by a fund, then printing these on demand, and consolidating the applicable documents into one envelope for shareholders.

Operational Benefits of Inline Print

The key here is reducing the workload associated with fund oversight of multiple vendors and print projects for a single reporting period. This can help you:

  • Eliminate spoilage, freight, and shipping expenses
  • Streamline material requests and eliminate the need for coordination on quantities
  • Reduce management of individual jobs (print requests, vendor management, invoicing, etc.)
  • Increase suppressions – consolidate distributions across documents with a common fiscal year-end

Accounting for Beneficial and Direct Mailings

Managing registered and beneficial records in a single workstream offers additional benefits. This added layer of shareholder bundling on top of standard householding, consolidation, and suppression maximizes distribution efficiencies and reduces the volume of printed materials. A single point of contact can also reduce resource hours needed to manage multiple processes.

Broadridge can help.

Our goal is to set the industry standard for fund families, automating workstreams to simplify and streamline implementation at every step. Five modular solutions work together to deliver a fully integrated, seamless execution, eliminating unnecessary handoffs that only add cost and delays.

Not ready for a solution decision? Contact us anyway. We’re happy to share our expertise so you can assess where you are and where you need to be.
Simply contact us.

Let’s talk about what’s next for you

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Want to speak with a sales representative?

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+1 800 353 0103North America
+65 6438 1144APAC