Fund accounting support to a US-based exchange-traded product (ETP) provider

  • 300%

    increase in product coverage

  • 50%

    faster turnaround in NAVs released through our streamlined process

  • 99.8%

    data accuracy in daily NAV valuation

Client profile and challenges

  • Client is the pioneer in ETPs, offering leverage in global markets (mainly European), with more than 300 funds
  • Client was looking for an independent fund administrator to provide support with end-to-end NAV calculations for its ETPs and hedge funds
  • Investor services: providing support with investor reports, and publishing performance reports and stakeholder dashboards

Our approach

  • Client calculated NAVs on Excel; the process was tedious and time consuming
  • Historical data had to be accessed and corporate actions recorded
  • Auditing was a challenge
  • We migrated the process as it was and started to deliver NAV calculations on Excel. We subsequently set up the fund with accounting platform ATWeb/Archway from SEI, and NAVs were then published only through ATWeb
  • We released NAVs to market (stock exchanges, Bloomberg, pricing team, etc.) before the defined deadline, increasing visibility and the number of orders
  • Capturing liabilities/fees (arranger fees, manager fees, inventory fees, performance fees, high watermarks and other expenses) on ATWeb was much smoother
  • We provided ETP performance data for publishing on the client website along with the benchmark
  • Delivered final terms of creation/redemption orders to exchanges (LSE/CBOE, etc.)

Impact delivered

  • Client launched new funds and migration was smooth
  • With the help of batching and scheduling functionality, ATWeb automatically sends financial statements to investors/clients
  • Within a shorter period of time, we provided historical data and other data required
  • A number of reports can be generated for audit purposes (breakdown of revenue, expenses, etc.)
  • 40%+ operational cost savings effected by the offshore delivery centre, providing a time-difference advantage
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