Hedge Fund Managers, Investors To Benefit From Increased Reporting

by Philip Morton, Investors Offshore.com

04 April 2003

Leading provider of accounting and administrative services to the hedge fund industry, PFPC Inc last week unveiled its new InvesTier reporting technology, created by SunGard Investment Management Systems, and announced that it would be integrating the reporting solution with its existing processing platforms in the United States, Ireland, and Luxembourg.

The new technology is expected to allow PFPC to address the need for greater transparency and increased reporting in the hedge fund industry, as Neal J Andrews, senior vice president and managing director of PFPC's accounting and administration business explained:

'We believe that by expanding the functionality of PFPC's world-class processing platform with InvesTier's automated hedge fund accounting and reporting capabilities, we will provide increased reporting flexibility and faster turnaround, improved access to reports, not only for hedge fund managers, but also for their clients and sales organisations.'

Functions performed by the new technology include:

- The full automation of the calculation of fees for individual investors and multi-advisor structures.
- The performance of daily allocations and calculation of fund NAVs, including all accrued fee calculations.
- The automation of pricing for fund of funds.
- The tracking of the capital investments of investors and shareholders, and facilitation of the reporting of sales, placement fees, trailing commissions, etc.
- The creation of financial and tax reports, such as K-1s as well as international client reports.
- The tailoring of multi-currency general ledgers for all required instrument types.

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