pControl™ Fund Accounting & Investment Operations solution profile is intended for Fund Accounting and Investment Operations teams seeking a single platform for Investment / Accounting Book Of Records (IBOR / ABOR) to manage cross invested pooled product vehicles, or open architecture investments. The solution includes automation of cash allocation, rebalancing, order management, interfund operations, NAV pricing, unitization, fund or sub-ledger accounting, and tax calculations.

The Fund Accounting & Investment Operations solution is tailored to organizations requiring automation of asset allocation algorithms in manufacturing unit linked investment products via on-balance sheet and off-balance sheet investment structures, including:

  • Life Companies
  • UK Life & Pension Companies
  • UK Trust Based Pension Providers
  • Unit Linked Product Providers
  • Annuity & Capital Guaranteed Product Providers

Uniquely, this solution profile addresses the needs of large Asset Owners who leverage their balances sheets in support of product manufacturing and who are have in-house Investment Operations and Fund Accounting operating models.

On-Balance Sheet Product Capabilities

  • Cash Allocation & Rebalancing to automate implementation of on-balance sheet complex investment structures including:
    • Fund-of-fund based products
    • Annuity and Capital Guaranteed products
    • Managed Allocation or Model Portfolio based products
    • Custom Target Date Funds and Outcome based products
  • Tailored Asset Allocation algorithms for top-down cascading of cash or rebalancing through unitized investment structures based on product, asset class, vehicle or portfolio manager requirements
  • Model Portfolio support for managing notional allocations across like-product categories, target date vintages or secondary cohorts
  • Automatic adjustment of Investment Glide Paths between target date vintages to generated smoothed investment targets
  • Asset liability Box Management where assets cannot be fully matched to liability positions

Investment Operations Capabilities

  • Order Management transaction life-cycle for placement, approval and settlement instructions and notifications to multiple custodians, multiple transfer agencies and multiple asset managers
  • Proprietary product Order Management of inter-plan investment cashflows and receipt of external transfer agency cashflows
  • Deal Consolidation to allow trades into a base investment funds to match the trade that the fund eventually places on market
  • Cash Forecasting for management of client funding and liquidity demands
  • Integrated Reconciliations for Cash, Transactions and Holdings
  • Attention Status Monitor  dashboards to allow Investment Operations personnel to manage exceptions and escalations across the entire Investment Process
  • Standardized data loads, transaction reports, transaction instruction and notification exports with SWIFT, EMX and scanned document/fax interface support

Fund, Sub-ledger Accounting & Tax Capabilities

  • Integrated NAV Calculation & Pricing functions for fully in-sourced NAV pricing and back office accounting operations
  • Integrated Fund Accounting or sub-ledger accounting support to simplify integration with Life Company enterprise General Ledger operations
  • Box Management support for automatic calculation of gains and losses in ‘box positions’ to be covered by shareholder reserves
  • Integrated Jurisdictional Tax Framework, Tax Expense and Income Distribution processing for calculation of on-balance sheet tax liabilities or tax management for separate trustee arrangements

Benefits

  • Scale efficiency and low cost product construction through automated STP cash allocation and rebalancing, order management, NAV Pricing and Fund Accounting, and integration with Life Company enterprise General Ledger operations
  • Reduce risk in asset allocation implementation via front-office and middle-office personnel utilizing a single platform to provide transparency for proposed, approved and confirmed order instructions
  • Consolidated reporting of gains and loss impact of unmatched liabilities on shareholder accounts
  • Improved investment efficiency to accommodate illiquid or held away assets, asset holdbacks, reallocation of exposure and forecasting of available liquidity
  • Flexibility for growth in new product development with ability to define multiple asset allocation structures with multiple compliance ranges
  • Reduced counterparty risk in cash and unit order management of trade instructions or manager notifications, as well as transaction documentation capture processes for physical documents
  • Reduced data handling effort and cost through inbuilt data management for start of day positions, internal holding, transaction and available cash reconciliations

Extensibility

  • When implemented with Fund Analytics provides simple fund return comparison analysis, time series generation, charting and ex-post risk analysis.
  • When implemented with Performance & Attribution provides accurate performance attribution for multi-asset multi-level investment structures, including lookthrough and interfund performance for segregated mandates / separately managed accounts.