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Fund Management

Overview

FA’s Fund Management provides you with a tool to manage your funds including mutual funds, hedge funds, and private equity funds. It covers managing fund portfolios, calculating NAVs, maintaining shareholder registries, and selected regulatory reporting. FA’s Fund Management can efficiently handle various types of assets and currencies, different share classes, and complex fee structures.

Functionality

Manage different kinds of funds, share classes, fee structures

  • Manage both UCITS and AIFMD - fund management supports managing both UCITS and AIFMD funds, allowing you to manage investment funds together with other types of funds, including hedge funds, private equity funds, and real estate funds.

  • Manage multiple share classes - fund management supports multiple share classes and currencies, with different fee structures and different valuation frequencies.

  • Apply swing pricing for your fund - calculate swing adjustment and choose if it has to be included in the NAV.

  • Keep track of fees, costs and kickbacks related to your funds - you can use one of our standard fee formulas available for example for management fee, performance fee, and kickbacks to calculate fees on your funds. If our standard fee formulas don't cover your specific needs, we can tailor a custom fee formula for you to calculate your fees with your own logic. In addition, you can accrue fees over time and capitalize them using features in Fee Management module. You can also calculate share class-specific fees outside of NAV calculation and store them as pre-calculated fees.

  • Include subscription and redemption fees in the fund trade orders – you can have transaction fees included in the fund trade orders that are executed when you accept NAV. Subscription and redemption fees are calculated automatically, and you can define a client discount or edit the resulting amount per trade order if needed.

  • Accrue the fund performance fee with the contingent redemption method - you can calculate equalized performance fee based on the schedule you define and have compensation trade orders created on the crystallization date.

  • Keep track of the accrued income - you can calculate accrued income (for example, from bonds and coupons) for the period to use it for taxation purposes or paying out income distribution.

Calculate NAV for your funds

  • Calculate NAV for your funds - calculate the Net Asset Value (NAV) of a fund or a share class together with a new unit price for fund shares. You can follow the calculation logic with the help of internal reports which break down the NAV calculation and the values used. NAV reports are stored in FA for future reference and can be automatically sent out by email.

  • Set the NAV calculation schedule - fund management lets you define a schedule for NAV calculation. You can see when the next calculation is pending. If needed, you can calculate NAV outside the schedule.

  • Track previous NAV calculations - look into previous NAV calculation details through the audit trail of calculated NAVs. You can also track the parameters used in the previous NAV calculations.

  • Get warnings during NAV calculation - you can get warnings during NAV calculation for example if you are missing market prices on the calculation date, you have large changes in your fund portfolio's positions, you have negative positions in your fund portfolio, or you are missing some of the fees you should calculate.

  • Check investment limits during NAV calculation - you can enable investment limit checks together with Compliance - Investment Restrictions module to verify compliance with regulations and fund rules. For example, you can set up UCITS limits and check you are not breaching any limits before you calculate your NAV.

Maintain shareholder registry

  • Keep track of your shareholders - shareholder registry shows you a list of your fund's shareholders along with their addresses and the number of units owned in each share class.

  • Pawn positions through creating unit certificates - you can create unit certificates through the shareholder registry. You can see which shareholders have outstanding unit certificates in which share class, and see details which purchase lots have been pawned.

Handle subscriptions, redemptions and exchanges

  • Manage the lifecycle of subscription and redemption orders - enter subscriptions into and redemptions from a fund prior to NAV calculation with Trade Order Management module. This allows fund management to price your trade orders after NAV has been calculated, and allows you to execute subscriptions and redemptions in the system. Subscription and redemption fees can be automatically included in your transactions, with an option to edit them and define a discount per client.

  • Manage fund exchange orders - enter fund exchanges prior to NAV calculation with Trade Order Management module. This allows fund management update unit prices, foreign exchange rates and trade ratios to your fund exchange orders NAV has been calculated.

  • Manage cash transfers related to subscriptions and redemptions - you can also create cash transactions to your fund portfolio's bank account, matching the value of the subscriptions into and redemptions from your fund.

Report your funds

  • Create and send out NAV reports - create PDF and XLSX reports with NAV calculation details and have them automatically sent out by email.

  • Update share classes' allocations based on the contents of the fund portfolio - keep track of your share classes' allocation information automatically based on the fund portfolio's contents for reporting purposes.

  • Calculate, preview and accept fund statistics, such as KPIs and holdings on the fund and shareclass level. Once you accept the statistics, you can use it in reports.

  • Create a custody report for SEB - you can create an XML-based UCITS report to report NAV and fund holdings to SEB. The report is used by mutual fund companies.

  • Create daily export to Bloomberg - you can create a daily XLS export report to report fund contents to Bloomberg after you have calculated the NAV.

  • Extend fund reporting with authority reports - you can extend fund reporting with External Reporting module, for example to create AIFMD and SIRA reports to your authorities.

Other fund management tools

  • Set up a new fund with fund installation wizard - installation wizard allows you to set up a new fund with the required information in one screen. You can also later add new share classes to existing funds with the same tool.

  • Update share classes' allocations based on the fund portfolio's contents - keep track of the share classes allocation information automatically based on the fund portfolio's content for reporting purposes.

  • Track and troubleshoot NAV calculation – view the NAV calculation progress, view audit logs and information about errors, stop and rollback the NAV calculation.

Supported formats

Format

Description

UCITS

Undertakings for Collective Investment in Transferable Securities (UCITS): UCITS Directive is a detailed, harmonised framework for investment funds that can be sold to retail investors throughout the EU.

AIFMD

Alternative Investment Fund Managers Directive (AIFMD): AIFMD applies to managers of funds that are not UCITS, including hedge funds, private equity funds, and real estate funds.