Fund Structures and Allocations
- Data entered once in the posting then applied to appropriate funds i.e. support for fund hierarchy.
- All other postings automatically generated by aggregation and allocation routines
- The
structure of the portfolio can be set up to reflect different hierarchies.
These may include:
- Investment and Venture Capital Trusts
- Reporting Funds
- Partnership Funds
- Co-investment Funds
- Fund of Funds
- Reporting is available at all levels (Total for investment company, investment, investment types, Reporting Fund, Partnership Fund, Partnership Capital Account)
- Allocation percentages are defined for each investment and applied as appropriate.
- Carry and management ratchet triggered re-allocations
- Reporting and Enquiries can be made on any combination of fund, Investment Company, instrument type, class, transaction type or code.
Instrument and Transaction Types
- Any
instrument type can be set up e.g.
- Unquoted and Quoted, Ordinary & Preference Equity
- Loans
- Bonds
- Instrument types may be subdivided into instrument classes
- Transaction
postings include
- Acquisitions and increments
- Disposals, redemption and write-off
- Conversions
- Investment revaluations
- FX revaluations
- Loan and preference interest accruals receipts & capitalisations
- Capital Income
- Dividend Income
- Transaction codes and code groups can be set up to provide comprehensive report and analysis classifications for all reports and surveys e.g. BVCA survey returns.
- Transactions and sessions can be rolled back to any date to correct errors. General ledger roll back transactions can be made in current or original period.
Currency Management
- Holds
and reports transactions in six currencies
- Investment company
- Investment
- Office
- Fund
- Base
- Reporting
- Can be set to display relevant currencies.
- Enquiry routines and both fund and investment performance modules can report on any of these currencies
Investment Revaluation
- Valuations are updated once and automatically applied to holdings in all funds
- Unrealised reserves movement accounted for on each investment.
- Provisions can be accounted for separately
- Up
to 10 different valuations are available, for example:
- BVCA/EVCA
- Accounting
- Directors
- Exit
- Supports what-if valuation modelling
- Quoted investments can be priced via an external feed
- Graphical presentation of pricing movements
- Full accounting for unrealised & realised movements on disposal
Customer data fields, security, case, valuation, fund, partner
- Allows users to define their own data recording fields.
- Provides a repository for all investment company ,security, fund and partner data.
- Dynamically linked to Portfolio & Contact & records.
- Provides flexible enquiry and reporting.
- Using Query Analyser all fields can be accessed for flexible enquiry and reporting.
Portfolio Accounting – Fund of Funds
- Provides for all investments in fund transactions.
- Enables an investor in funds to monitor the underlying (shadow) investments of the funds.
- Investments held directly, or indirectly via funds, can be aggregated and valuations compared.
- Provides any number of hierarchical levels within the fund holding structure
Income & Fee Accruals
- Income accruals on loans and preference shares can be calculated and accounted for either as a month end routine or on an ad hoc basis for enquiries, redemptions.
- Accrual
features:
- Daily calculation of simple and compound interest payable
- Calculation of fixed rate redemption interest
- Fixed and Floating interest rates set to relevant bank rates
- 360/365/366 days (or1/12) interest calculation
- Automatic recalculation of interest accrual when rate, period or principle is amended
- Accounting for gross interest and tax in all currencies
- Automatic processing of loan & equity redemption profiles
- Outstanding interest can be paid or capitalised
Income & Fee Billing & Debtors
- Provides loan interest, preference dividend billing and forecasting
- Loans can be specified with a redemption schedule.
- Supports
fee billing, including:
- Non executive director fees
- Monitoring fees
- Other management charges
- Fee rates can be linked to a price index for ratcheted billing.
- Transaction processing is integrated to both the debtors (sales ledger) and general ledgers.
- Aged debtor reports are available via complete sales ledger functionality, including Invoice/Cash Matching routines
- Allows Multi-currency transactions and revaluation routines
- Integrated
to the following portfolio functions:
- Fee billing
- Loan interest and preference share billing
- Invoice creation and printing
- Reminder of due dates for invoicing
- Cross charging
- Automatic or manual cash matching
- Direct Debit BACs processing
- Comprehensive penalty interest on overdue capital or interest repayments
- Realisation plans & performance forecasts can easily be produced.
Custody records
- Allows for a record of certificates held at safe custody locations
- Reports the difference in the holdings between the Safe Custody and Portfolio records
- Can track certificate movements
- Produces audit confirmation letters
Fund Administration & Accounting
Fund Capital Accounting
- Accounting for all capital account movements i.e. monies received & invested, fees, interest, etc.
- Allocation routines to calculate draw down amounts
- Percentage allocations can be based on drawn to date or remaining commitments
- Investment partner allocations can be made to whole unit amounts or percentage of value
- Allocation profiles are linked to individual investments to facilitate leavers, ethical exemptions
- Supports partner capital, profit & loss and balance sheet reporting
- Call/distribution amounts are available to Partner communication routines in Contact database
Partner Communication
- Partner draw down amounts derived from the Capital Accounting module can be mail merged for letter, email, or fax transmission.
- Stores “cc” lists for each investor of a fund and there is a special mail merge facility for draw down and distribution letters
- All Investor's Banking information is stored.
- Mailing flags can be set for particular mailing preferences e.g. email, fax, and post.
- There is full partner contact activity monitoring and a complete document store
- WEB reporting is available.
- Reporting can be either tabular or graphical.
- Online access to all partner documentation.