Fund Accounting and Fund Valuation Services
The daily core responsibility for Apex's Fund Accounting teams is to generate Net Asset Value (NAV) calculations while maintaining the highest quality levels in terms of NAV accuracy, completeness and timeliness. The teams handle the whole range of funds products in an environment of growing complexity of investment funds structures, sophistication of investment strategies and ever-increasing regulatory constraints.
Apex's fully integrated global fund accounting system and high-speed, real-time processing enables us to deliver accurate financial information, multi currency transaction processing and flexible valuation periods.
The production of NAV calculations is a step-by-step process that comprises dual-control and exhaustive quality checks by expert staff before the final release of NAV per share.
The resulting NAV data is compiled into a large variety of reports dispatched to advisors, promoters, sales persons, distributors, auditors, regulatory authorities, etc
Fund accounting services includes:
- Daily reconciliation of cash balances and positions with prime broker(s)
- Automated upload of daily trading activity from the investment managers trading system or prime broker
- Independent pricing and fund valuation
- Processing of corporate actions and dividends
- Expense accrual management
- NAV production and distribution - monthly or estimated daily and/or estimated weekly basis
- Series accounting and equalization support.
- Cash management and reconciliation
- Calculation and timely payment of all management and performance fees in accordance with the key agreements.
- Preparation of interim and annual financial statements, including co-ordination of the annual audit.
- Web access for investment managers to obtain daily return information and other performance indicators
Apex Fund Services has successfully completed an independent SAS 70 Type II audit of its back office and fund accounting services across our global presence.