Improved risk disclosure from funds is a priority for allocators and regulators. Allocators seek to aggregate risk information from multiple funds to improve portfolio risk management, and regulators collect data to assess systemic risk concerns.
The Open Protocol (OP) and Insurance Open Protocol (IOP) templates standardise the collection and reporting of risk data. They provide a framework with consistent data inputs and standard calculation methodologies. Standardised risk reporting means allocators can easily aggregate exposures, asset managers can streamline reporting, and assists with the production of regulatory reporting.
The SBAI and Albourne Partners Limited chair the Open Protocol Working Group.
- Open Protocol covers exposure data for all major asset classes as well as counterparty risk and investor breakdown.
- Insurance Open Protocol covers insurance exposures and risk information applicable to insurance assets.
- Three grades of information provision allowing managers to provide different levels of granularity
- A range of service providers produce OP reports.
- Oct 2021 – New OP template released expanded for digital assets and including an ESG module.
- Oct 2018 – OP template updated for change in structure of GICs
- Jun 2017 – IOP template published
- Aug 2016 – New OP template following the addition of Real Estate to GICs
- Aug 2011 – OP template published