Accounting Services
ABC Quant runs FoF Manager for fund managers, fund of funds managers and family offices. The engagement can be the initial migration, ongoing shadow accounting beside the administrator, or main accounting where the manager keeps the records internally.
The framework is built for alternative portfolios: subscriptions and redemptions with notice and settlement terms, illiquid positions, multiple classes, equalization, multi-currency portfolios, and valuations that arrive after the period has closed.
Service models
Implementation and migration
FoF Manager is configured from the existing fund structure and the historical record is brought across.
- Portfolio and class setup
- Historical transaction migration
- Currency configuration
- Liquidity and redemption terms
- Strategy and manager classifications
- Master-feeder structures
Ongoing shadow accounting
An independent record is maintained beside the administrator and reconciled on a regular cycle.
- Subscriptions and redemptions
- Transaction processing
- Position and valuation reconciliation
- Cash-flow monitoring
- Administrator synchronization where supported
Main accounting
FoF Manager is the internal accounting record, not a parallel shadow set.
- Transaction-level records
- Fund and class accounting
- Multi-currency portfolios
- As-of and as-on reporting
- Transaction audit trail
Alternative fund terms in the accounting record
A conventional securities ledger does not carry hedge-fund redemption terms, equalization, or a master-feeder structure. FoF Manager does.
Liquidity, subscriptions and redemptions
- Liquidity analysis for complex redemption scenarios
- Notice periods, lock-ups and gates
- Cash-flow projection for illiquid positions
- Subscription and redemption processing
Structures, classes and periods
- Multiple share classes and currencies
- Equalization
- Single master / multiple feeders, and single feeder / multiple masters
- Combined positions across funds
- Dynamic, Closed Period and Incremental modes for late valuations
Reconciliation with the administrator
Shadow accounting is an independent record. Positions, transactions and valuations are compared with the administrator. Where a link is available, positions and transactions are synchronized rather than re-keyed.
What is reconciled
- Subscriptions and redemptions
- Portfolio transactions
- Positions and cash
- Valuations and NAV
- Transaction audit against the Transaction Manager
Reporting
- As-of and as-on any date
- Dynamic recalculation when a valuation arrives late
- Closed Period left unchanged once closed
- Incremental update without reopening the full history
Accounting and portfolio monitoring
Transactions posted for accounting are the same positions used for exposure, liquidity and limit control. The portfolio does not have to be rebuilt in a separate system before it can be analysed in Risk Shell.
Exposure, liquidity and limits
- Strategy, manager and geographical exposure
- Custom strategy classification
- Liquidity analysis and cash-flow projection
- Portfolio limit control
- Current and historical exposure
Risk Shell
- Risk and performance statistics
- Stress testing
- Factor analysis
- What-if analysis
- Portfolio construction and optimization
What ABC Quant does
At implementation
- Migrate accounts, historical transactions and portfolios
- Configure classes, currencies and master-feeder structures
- Set liquidity and redemption terms
- Implement custom classifications
On an ongoing basis
- Process transactions, subscriptions and redemptions
- Reconcile with the administrator
- Link FoF Manager to the administrator for position and transaction updates
- Maintain the accounting history and the portfolio reports
