One of the more time-consuming and high risk aspects of managing an investment partnership is completing all of the accounting tasks required to properly allocate profits, losses, fees, expenses, and taxes amongst each investor. Yet, this is a critical component of a fund manager’s investor servicing obligation to its limited partners and is to be facilitated in a timely and accurate manner. Failure to do so can result in financial penalties in the form of monetary fines, as well as reputational risk in the industry. This risk could be more even more damaging, as investors lose faith in the firm’s ability to live up to its service level agreement.
SS&C Advent’s Geneva World Investor® (GWI) brings automation and efficiency to the investor allocation function through its tight integration with Geneva®, our award-winning portfolio management and investment accounting platform. As part of our expanded managed services offering, GWI is now available for Investor Allocations as a Service. As part of this service, our team will take on all of the functions required to oversee and process your investor allocations, as well as provide you with a comprehensive NAV reporting package at a frequency you prefer. For fund managers, this takes a heavy burden off your back office and significantly reduces the risk of errors while ensuring the timely delivery of investor statements and reporting.
Specifically, this service includes:
- P&L allocations for open- and closed-end funds in line with investor agreements
- Reconciliation of investor balances and NAV
- Calculation of performance and management fees and allocations
- Investor accounting, reporting, and recordkeeping
- Investor relations management
One of the primary differentiators of the SS&C Advent managed services offering is that firms are not required to complete a lift out of their middle and/or back office, nor are they required to pay a software license to take advantage of our new investor as a service offering. The model allows firms to choose which offering they want to take advantage of allowing them to customize the services they need by tailoring it to fit their business.
Investor allocation as a service is just the latest example of the expansion of our Geneva managed services offering. Managers of hedge funds, private equity and debt, and other more specialized fund types are leveraging Geneva managed services both to shrink their IT footprint and overhead, as well as to reduce the strain on middle- and back-office staff. The team serves as an extension of yours; handling the routine tasks, such as daily reconciliation and data management, while your team focuses on more value added operational and revenue generating functions.
Recently, our experts hosted a client webinar, A Smarter Approach to Investor Allocation that explores the offering in more detail and explains what this approach means for your business. For more information on the investor allocation as a service offering, read our brief, or request a demo. In addition, you may want to read our white paper, “What to Look for in a Managed Services Provider,” as you explore your managed services options.