K-AUM calculator
Assets under management at 0.02%, on a fifteen-month window with the three most recent months stripped out. The arithmetic is trivial; what catches firms is the delegation rule, which pulls assets in when you delegate out and pushes them away when someone delegates in.
IFR Art. 17 measurement · Art. 15(2) coefficient 0.02% · 15 months less 3 · nothing stored
Calculate K-AUM
Runs in your browser · nothing uploadedEnter either the twelve monthly values that survive the exclusion, or an average you have already computed. Values are measured on the last business day of each month and converted to your functional currency at that time.
Assets under management
Article 17 · discretionary portfolio management and ongoing non-discretionary adviceTwelve values, recalculated every month, for every K-factor. Pillar 1 Capital maintains the series, applies each measurement rule and shows which limb binds — with free capital monitoring to start.
Create free account →Three things Article 17 does that surprise people
A long, lagged window
Fifteen monthly values, measured on the last business day of each month, with the three most recent excluded. The mean of the remaining twelve is your AUM, calculated on the first business day of each month.
Still yours
Where you have formally delegated management of assets to another financial entity, those assets stay in your AUM. Outsourcing the management does not outsource the capital requirement.
Not yours
Where another financial entity has formally delegated management to you, those assets are excluded from your AUM. The delegating firm carries them instead, which is what stops the same assets being counted twice.
Rules reviewed 21 August 2026 · IFR (EU) 2019/2033 Art. 15(2), 16 and 17
What this calculator does
It doesApply the coefficient and the mean
- Applies the 0.02% Article 15(2) coefficient.
- Computes the arithmetic mean where you enter twelve monthly values.
- Shows the working, so the average and the weighting are separately visible.
- Flags volatility across the series, which is what makes the lag matter.
- States the measurement window and calculation point alongside the figure.
It does notBuild the series
- Construct the fifteen-month series or apply the three-month exclusion.
- Decide whether delegated assets belong in or out of your AUM.
- Value ongoing non-discretionary advisory arrangements.
- Handle firms with fewer than fifteen months of history, or regulatory determinations replacing missing data.
- Produce anything you can file.
Working through the K-factors?
K-COH is the other RtC factor most firms need, and it runs on a different window again — six months rather than fifteen.
Nothing you type here leaves your browser
The calculation runs entirely in your own browser. No figure you enter is sent to REGREP, written to a log, saved, or passed to any analytics tool.
About K-AUM
What period does AUM cover?
Article 17 takes the value of total monthly assets under management measured on the last business day of each of the previous fifteen months, excludes the three most recent monthly values, and takes the arithmetic mean of the remaining twelve. K-AUM is calculated on the first business day of each month.
What counts as assets under management?
Assets managed under discretionary portfolio management, and assets under non-discretionary arrangements constituting investment advice of an ongoing nature. One-off advice does not create AUM; a recurring advisory relationship does.
We delegate management to another firm. Do those assets still count?
Yes. Where an investment firm has formally delegated the management of assets to another financial entity, those assets are included in its own AUM. Delegating the activity does not move the capital requirement.
Another firm delegates to us. Do we include those?
No. Where another financial entity has formally delegated management of assets to the investment firm, those assets are excluded from that firm’s AUM. The two rules together ensure the same assets are counted once, by the delegating firm.
What if we have been managing assets for less than fifteen months?
Use historical data for the period as soon as it becomes available. Where data points are missing, the competent authority may replace them with regulatory determinations based on the business projections submitted under Article 7 of MiFID II.
Do you store the figures I enter?
No. Everything is calculated in your browser and discarded when you close or reload the page.
Every K-factor runs on a different clock.
Create a free account and let the windows, the exclusions and the coefficients be maintained for you.
No card required · free capital monitoring · nothing stored from this calculator