|By Business Wire||
|February 18, 2014 03:00 AM EST||
Fund companies across Europe are increasingly adopting a fixed ratio on operational charges, which is a component of the total expense ratio (TER), to increase investor confidence that the costs of funds are fixed and will not be higher than stated and also to simplify accrual management. However, managing fixed TER expenses in multiple currencies across multiple share classes is nearly impossible with the manual, error-prone spreadsheets that many back offices still use.
Confluence today announces Unity NXT Budgeting, a new SaaS-enabled automated solution that enables UCITS managers to manage their fund expenses and protect profitability margins through greater control and transparency, reduce the cumulative hours spent on fixed ratio expense oversight, and increase accuracy through the elimination of error-prone spreadsheets.
“With Unity NXT Budgeting, fund managers can now reap the benefits of a fixed operation charge ratio without struggling through the pain of a spreadsheet-based expense management solution,” said Skip Smith, Chief Operating Officer of Confluence. “Now for the first time, fund managers can make highly informed product decisions about which fund and share class offerings can optimize revenue potential.”
”Unity NXT Budgeting allows managers to allocate expenses fairly across multiple currencies and share classes, something that was nearly impossible to do accurately with spreadsheets,” said Melvin Jayawardana, European Market Manager for Confluence. “Managers now have an automated solution that will eliminate manual back office processes and provide transparency and governance around expense management.”
Unity NXT Budgeting enables fund managers to:
- Automatically collect net assets, foreign exchange rates, and bulk invoice payment activity using a secure environment – including checking for missing data.
- Allocate payment activity to appropriate instruments.
- Create fund-level budgets in multiple currencies and project and allocate future expenses.
- Feel confident that the set ratio will cover expenses and more accurately evaluate profitability.
- Calculate, forecast and monitor margin data.
“The time has come to exchange complex, confusing, and error-prone methods for an automated, controlled and accurate alternative,” Smith said.
To learn more about Unity NXT Budgeting, contact Confluence by email at [email protected] or call +1 412 802 8632.
For more than 20 years the global investment management industry has come to trust Confluence to deliver innovative solutions to take the risk out of fund administration. Helping investment management companies gain unprecedented control, Confluence automates every step of the fund administration process—including the collection, creation, confirmation and delivery of investment product data. Results are lower costs, reduced risk, decreased reporting turnaround times and the scalability to automate more processes without additional resources.
Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. From the Confluence traditional install, hosted and outsourced Unity® platform solutions to our enterprise-grade SaaS enabled Unity NXT platform, Confluence automates critical fund administration and reporting processes—such as regulatory reporting, financial statement preparation and performance reporting. Confluence solutions support a wide array of collective fund investment types – including European domiciled UCITS, alternative investments, traditional U.S. based ’40 ACT mutual funds, and contemporary fund structures such as ETFs.
Headquartered in Pittsburgh, Pennsylvania, Confluence serves the international fund industry with key locations in Dublin, London, Luxembourg and San Francisco. For more information, visit www.confluence.com
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