NAV Oversight

pControl NAV Oversight delivers independent verification of daily NAVs and Unit Price results for organisations who have outsourced fund accounting activities to one or more service providers.

Using summary level data provided by fund administrators, NAV Oversight validates the actual NAV and unit price against an expected NAV and unit price over daily, month-to-date and year-to-date periods.  A wide set of validations check the movement in shareholder units, capital flows, dilution, fees, tax and spreads; while price correlation checks confirm consistency across funds, share classes and unit series.

NAV Oversight is designed to address the requirement for independent verification of fund accounting results by asset owners and asset managers who have outsourced their fund administration.

Features

  • Uploads, aggregates and validates data from multiple sources and multiple fund administration service providers.
  • Standardised file import and export formats.
  • Standardised summary and detailed validation reports can be emailed to compliance teams and trustees.
  • Accommodates single price or multiple price types such as NAV, bid, offer, or swing prices.
  • Market and best practice independent validation of externally calculated NAVs and unit prices including:
    • Actual NAV price versus expected NAV price movement validation
    • Fund family price correlations
    • Spread and swing price validation
    • Capital versus shareholder units on issue validation
    • Dilution validation
    • Fee and tax validation.
  • Validates multi-class / multi-currency or hedged share classes.
  • Accommodates  multiple NAV validation points with full audit history.
  • Interfund Explorer provides a graphical display of the fund structure with navigation and drill down.
  • Automated email dispatch of notifications upon late data delivery, validation success or validation failure.
  • Full audit trail of all validation activity allows review by stakeholders and auditors.
  • Production Summary dashboard delivers progress monitoring of all external NAV and unit price validation 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 Oversight 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. Loading of service provider data
  2. Execution of market data validations
  3. Calculation of expected NAV and unit price
  4. Validation of actual NAV and unit price
  5. Comparison of expected versus actual NAV movement analysis
  6. Approval and release of prices

Solutions

The NAV Oversight capability is included within the following solutions: