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Clear direction for Oversight and Contingent NAVs

Geoff Hodge speaks with Money Management Executive in a special report on Asset Management Trends
16 December 2019

With market-leading fund managers incorporating solutions into their global operating models, the trend of embracing an effective backup NAV capability as part of a modern, automated oversight function is consolidating into a standard approach.

There is no doubt that regulators globally have sensitized fund boards to the need to move to an evidence-based model for ensuring oversight of outsourced operations, with fund accounting and NAV accuracy getting particular attention.

While regulators have been vocal about the need to raise the bar, they haven’t been prescriptive as to approach. After a period of exploring alternatives, the market has stepped in to provide clarity. There is a strong sentiment that the key characteristics of these functions is the need for independence, the ability to span multiple third-party provider relationships and, in the case of the backup NAV, the ability to operate in the face of a complete multi-day service provider outage.

This trend has sharpened focus on selection criteria when considering oversight and backup NAV solutions to ensure there is a clear statement of what business scenarios and what level of insurance against a business interruption are being sought. We are certain to see a continuation of accelerated activity in the take-up of robust and automated oversight and backup NAV capabilities as standard infrastructure, along with the emergence of independent services that can shoulder this responsibility on behalf of fund treasurers, while providing real-time transparency into oversight activities undertaken on their behalf.

Read the full report here. 

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