NAV Control

pControl NAV Control delivers accurate and timely NAV production for delivery to clients and stakeholders. Data and business validations are linked to existing upstream and downstream business functions via NAV Control’s integrated end-to-end process management capability.

Fund accountants can monitor the NAV and unit price production process, manage quality via automated validations and control approval and release within client Service Level Agreements (SLAs).  Tailored dashboards with data drill through capabilities support on-line exception diagnosis and remediation.

Investor servicing queries are handled in a ‘one-touch’ environment where a complete auditable data image defends the NAV and unit price calculation.  Operations teams have a consistent global view, eliminating the need for users to investigate exceptions across multiple systems, while delivering significant efficiency gains.

Features

  • Integrates with multiple underlying fund accounting and feeder systems to capture upstream system status, operator commentary, corporate actions, reconciliation breaks and overrides, market data, and underlying portfolio positions and transactions.
  • Process control and dashboard views highlight exceptions and escalations allowing easy drill through to underlying causes.
  • Supports centralised or distributed operating models that demand multiple time-zone support for ‘follow the sun’ processing.
  • Market Data Validations includes:
    • Validation of security prices, market indices and FX rates
    • Generation of daily re-weighted composite benchmarks
  • Asset Level Validations includes:
    • Fund or product validations
    • Holding, valuation and transaction validations
    • Account balance validations
  • Generation of daily re-weighted dynamic benchmarks using actual fund asset weights for best possible comparison.
  • Fund / benchmark movement attribution (over and underweight asset analysis) is automated, providing detailed explanation of variances.
  • NAV Movement Analysis provides a hierarchical movement breakdown and tolerance checking allowing users to drill from total level to underlying position and transaction data.
  • Data Dissemination provides fund accountants the ability to define and format NAV and related data extracts for automated distribution to clients.
  • Client specific templates ensure flexibility to configure client or fund specific business rules.
  • NAV Control statistics support continuous refinement of tolerances, while delivering rich client and SLA reporting.
  • Full audit trail of all NAV production activity allows review by stakeholders and auditors.
  • Production Summary dashboard delivers progress monitoring of all NAV production activities for each processing date.
  • Attention Status Monitor dashboard provides real-time exception monitoring for any activity with critical completion or Service Level Agreement deadlines.

Processing

The NAV Control end-to-end control framework and standard process template delivers a known end-state with defined target metrics.  This simplifies client re-engineering decisions and ensures a predictable time-line to benefits.

The standard process template includes the following:

  1. Import of upstream process status such as:
    • Transaction entry
    • Market price availability
    • Corporate action processing
    • Reconciliation breaks
  2. Execution of Market Data Validations
  3. Execution of Asset Level Validations
  4. Import or calculation of  NAV and Unit Price values
  5. Execution of NAV Movement Analysis
  6. Approval and release of the NAV and Unit Price values
  7. Automated Data Dissemination of NAV and supporting Unit Price values

Solutions

The NAV Control capability is included within the following solutions: