MVest solution overview

Support multiple fund structures

MVest has the sophistication to handle all types of funds including single class, multi-class, multi-manager and fund of funds.

Benefit from end-to-end fund accounting

The fund accounting process can be loosely divided into three phases. MVest has all the functionality needed for each of these phases:

1. Reconciliation and reporting
2. Processing and analysis
3. Valuation, verification and dissemination

Let’s take a look at these phases in more detail.

Start the day off right with reconciliation and reporting

This phase relies heavily on MVest’s interface and reporting capabilities. Generally taking place first thing in the morning, information from the previous day’s closing is imported into the system and compared to existing records.

Send and receive information from other systems

To ensure the accuracy of the valuation, it is necessary to import and reconcile information from other systems. MVest has a built-in interface module that allows the user to import and export transactions, holdings, capital stock, prices and security information from the other relevant applications. Data that is in error can be edited directly in the interface module before it is loaded into the MVest database.

Generate reports

Choose from various reporting and reconciliation options to streamline your morning processes. MVest contains more than 400 on-demand reports that allow you to view the information you need and store it in multiple formats (i.e. excel, pdf, html, csv) for audit and verification purposes.

Process transactions and accruals

In this phase, transactions, accruals, distributions and exchange rates are processed and examined for inconsistencies. This phase generally takes place early to mid-afternoon and utilizes MVest’s reporting, general ledger and security type-specific processing features.

Generate automatic general ledger entries

One of the key benefits of MVest is its integrated general ledger. Firms may set up their own custom charts of accounts either system-wide or via a custom chart for individual funds, if required. All transactions and accruals automatically generate entries to the GL using the parameters specified.

Adjust entries and transactions

While thoroughly automated, MVest also makes it easy when it is necessary to manually enter or adjust information. Journal entries can be manually posted to the GL and existing entries can be adjusted with full audit tracking.

Process on your schedule

When all the data has been imported or entered into the system, the on-demand accrual process can be run to process all the income and expense accruals, dividend receivables, withholding tax expenses and reclaims, and any pending settlements to bring the funds up to date. Results can be viewed on screen or printed using MVest’s many detailed reports.

Calculate fund distributions

In addition to regular daily processing, MVest calculates distributions for each fund when required with the integrated Tax Administration module. This module consolidates the income, dividends and gains of each fund, and also produces distribution notices for any fund of funds under management.

Strike the NAV: Valuation, verification and dissemination

In this phase, the unit value – or Net Asset Value per share (NAV) – of the fund is calculated, verified and then distributed to the various reporting services that disseminate fund unit values. This phase takes place at the end of the day once market prices become available.

Validate your unit values

MVest’s “NAV Proof” module is an exception based tool that provides a method for running a mock valuation, identifying potential errors and finally striking the end of day unit price for the fund.

Define custom tolerance levels

The NAV Proof module provides the flexibility to set custom tolerances for each fund, allowing the exceptions to be tailored to the characteristics of each fund. The “Pre-NAV” report identifies any tolerance breaks that can then be investigated before the final unit price is struck.

Update market data

End of day market prices can be imported automatically into the system through StarSource (CGI’s market data feed) or fed in via an interface from any other pricing vendor. Once prices are in the system, the final unit price can be struck. Again, using the NAV Proof module, tolerances are checked and any potential breaks or systems issues (e.g. missing security prices) are identified.

Distribute your prices

Once the final unit value has been struck, MVest provides a generic price upload interface that sends fund prices to various recipients, such as third-party data providers, media information warehouses, or your own website.

Let us show you!

CGI’s MVest portfolio management solution provides all the functionality needed for each phase of the fund valuation and accounting process. Schedule a live demonstration today to see how MVest can help you drive greater efficiency and support higher capacity in your fund accounting functions.