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Two platforms solving different compliance problems. FundApps excels at shareholding disclosure. Caelith is purpose-built for AIFMD II regulatory reporting. Here's how they compare.
FundApps is a London-based regulatory technology company founded in 2010. They have built a strong reputation in shareholding disclosure and position limit monitoring, serving major asset managers who need automated compliance across dozens of jurisdictions. Their platform monitors portfolios in real time against disclosure thresholds in 50+ markets.
Caelith focuses on a different part of the regulatory landscape: AIFMD II Annex IV reporting and NCA submission. While both platforms serve fund managers, they address largely non-overlapping compliance requirements.
This comparison is less about choosing one over the other and more about understanding which problem each solves — and whether you need one, the other, or both.
| Feature | FundApps | Caelith |
|---|---|---|
| Primary focus | Shareholding disclosure, position limits | AIFMD II Annex IV, NCA filing |
| AIFMD II Annex IV | Limited — not core product | Full XML generation + submission |
| NCA integration | No direct NCA filing | BaFin SOAP, CSSF eDesk support |
| AI assistance | Rule-based automation | AI agent for compliance workflows |
| Investor eligibility | Not covered | Built-in KAGB/AIFMD checks |
| LMT management | Not covered | Full LMT tracking + calibration |
| Shareholding disclosure | ✓ Core strength — 50+ markets | — Not in scope |
| Position limits | ✓ Automated monitoring | — Not in scope |
| Sensitive industries | ✓ Screening & reporting | — Not in scope |
| Pricing | Enterprise (typically €50K+/year) | Starts lower, usage-based |
| Best for | Large asset managers needing shareholding disclosure | Fund admins and KVGs needing AIFMD II filing |
For many EU alternative fund managers, FundApps and Caelith are complementary, not competing solutions. A KVG managing cross-border AIFs might need FundApps for shareholding disclosure obligations while using Caelith for quarterly Annex IV filings to BaFin.
The compliance requirements these platforms address are defined by different regulatory frameworks: shareholding disclosure rules (e.g., WpHG in Germany, DTR 5 in the UK) versus AIFMD II reporting obligations. There is minimal overlap in functionality, which makes running both straightforward without duplication.
If your compliance team currently handles shareholding disclosure with FundApps and Annex IV filing with Excel or a manual process, adding Caelith fills the gap without replacing any existing tooling.
FundApps has deep coverage in global disclosure rules. Their rule library spans jurisdictions from the US to Japan, making them the go-to choice for firms with broad geographic exposure. This breadth is their key differentiator and the result of over a decade of regulatory rule encoding.
Caelith is deep rather than broad. Instead of covering many regulatory frameworks at a surface level, we focus exclusively on AIFMD II compliance: Annex IV XML generation, XSD validation against ESMA schemas, direct NCA submission (BaFin SOAP, CSSF eDesk), investor eligibility, and liquidity management tools. This depth means faster iteration on AIFMD-specific features.
FundApps typically operates on annual enterprise contracts. Public pricing is not available, but market estimates suggest entry points around €50,000/year for mid-sized deployments, reflecting the breadth of their platform and the complexity of maintaining rules across 50+ jurisdictions.
Caelith uses transparent, usage-based pricing starting at €99/fund/month. There are no long-term contracts, and you can scale up or down as your fund portfolio changes. For a KVG with 10 funds, that represents roughly €12K/year — though the comparison is imperfect since the platforms serve different compliance needs.
FundApps and Caelith serve different regulatory obligations. FundApps is the established leader in shareholding disclosure and position limit monitoring. Caelith is purpose-built for AIFMD II Annex IV reporting and NCA submission.
If your compliance challenge is knowing when you cross a disclosure threshold, FundApps is the right tool. If your challenge is generating validated Annex IV XML and filing it with your NCA, that's what Caelith does.
Many firms need both. They solve different problems, and they work well together.
FundApps focuses on shareholding disclosure and position limits, not AIFMD Annex IV reporting. While they may cover some AIFMD-adjacent requirements, Annex IV XML generation and NCA submission are not their core product. For dedicated Annex IV filing, a purpose-built tool like Caelith is more appropriate.
Yes, they are complementary. FundApps handles shareholding disclosure obligations (e.g., WpHG, DTR 5) while Caelith handles AIFMD II Annex IV reporting and NCA submission. There is minimal functional overlap, so running both is straightforward.
It depends on your compliance needs. If your primary obligation is shareholding disclosure across multiple markets, FundApps is the stronger choice. If you need to file Annex IV reports with BaFin, Caelith provides direct SOAP submission, XSD validation, and AIFMD II-specific features. Many German KVGs need both capabilities.
FundApps uses enterprise pricing (typically starting around €50K+/year). Caelith uses per-fund pricing starting at €99/fund/month. However, a direct price comparison is misleading since the platforms serve different compliance needs. The relevant question is the cost of each solution for the specific regulatory problem it solves.
Not directly. FundApps and Caelith address different regulatory frameworks. FundApps monitors shareholding thresholds and position limits. Caelith generates Annex IV XML and submits to NCAs. They are more complementary than competitive for most fund managers.
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