"We will provide increased reporting flexibility, faster turnaround and improved access to reports, not only for hedge fund managers, but also for their clients and sales organizations," said Neal J. Andrews, senior vice president and managing director of PFPCs accounting and administration business.
The use of such technology may help bring more players into the market, according to Carol R. Kaufman, president of the InvesTier operating unit at SunGard. "Traditionally, the complexity of accounting for equitable allocations of realized gains among various investment partners has been an arduous, labor-intensive, back-office burden. InvesTier allows fund accountants and administrators to streamline their processes and improve client services, and it can help to reduce operational costs and compliance risks."
InvestTier has the ability to automate the calculation of fees, price fund NAVs, automate fund-of-fund pricing, facilitate reporting and performance-based fee calculations, and generate financial and tax reports.