Independent Portfolio & Fund Accounting

Complete portfolio reconciliation and fund accounting process to establish NAV's own books and record

Three-Way Trade & Position Reconciliation
Independent Portfolio Pricing
Investor Allocations of Income and Expenses
Management & Performance Fee Calculation
Cash Reconciliation
Input Investor Capital Activity & Maintain Shareholder Register
Independent Performance Calculations

Reconciliation Against the Primary Administrator or Internal Books

Comprehensive reconciliation between NAV’s books and the primary administrator or a client’s internal books

Trade, Position, and Cash Reconciliation
P&L Reconciliation by Position
Complete Balance Sheet and Income Statement Reconciliation
Management & Performance Fee Calculation
Exception Reports to Identify Tolerance Breaches

Other Value Added Services

Web Portal Access with Data Mining, Custom Reports, and Advanced Risk Reporting
Compliance Support for SEC Form PF and NFA/CFTC Reporting
Daily Trade Break Reconciliation
T+0 Reporting to Support 40-Act Fund Requirements
Data Transfer to Third Party Custodians and Risk Reporting Systems

Why Shadow Accounting?

Parallel Accounting against the primary administrator to ensure accuracy and redundancy
Middle Office Support not offered by your primary administrator (i.e. Daily Reporting, Risk Reporting, Compliance)
NAV Calculation and Reporting Services for UCITS funds requiring a local Transfer Agent
T+0 Reporting for 40-Act Funds

Fund Administration for Hedge Funds

Fund Accounting: Daily, Weekly, Monthly, Quarterly or Inter-Period NAVs
Three-Way Trade & Position Reconciliation
Calculation of fund performance (daily, monthly, year to date, and since inception)
Independent Portfolio Pricing
Management & Performance Fee Calculation
Income/ Expense Allocations to Investors
Cash Reconciliation
Daily Trade Break Reporting
Partnership, Multi-Series, and Equalization Accounting
Performance, exposure and custom reporting
Secure online portal access to accounting packages, reporting, and interactive data tools
Complete Audit Support
Investor Services: Process Subscriptions and Redemptions
Investor Due Diligence (AML, KYC, OFAC, ERISA)
Secure Investor Reporting & Investor Web Portal
Direct Transaction Confirmations
Compliance & Regulatory Support: US FATCA, UK FATCA & CRS Compliance
SEC Form PF
NFA/CFTC Reporting and Audit Support
OPERA Reporting
Middle Office Support: Cash Management via dual-controlled wire processing
Client Web Portal with Data Mining, Custom Reports, and Advanced Risk Reporting
Corporate Action Processing
Data transfer to third party custodians and risk reporting systems
Financial Statement Preparation: GAAP and IFRS Reporting
Computation of financial highlights
Preparation of footnotes to financial statements
Tax Reporting Services: Prepare and file of US Partnership Federal tax return and state returns
Prepare and distribute Investor’s Schedules K - 1
Provide quarterly and year-end tax estimates to investors
Calculate and arrange payment of foreign partner withholding and file Form 1042,1042 - S,1042 - T for foreign investors
Responding to notices from Internal Revenue Service and states tax authorities on behalf of client
Prepare and file Composite State Returns
Prepare and File Foreign Bank Account Reports(FinCEN 114)
Prepare PFIC Annual Information Statements
Prepare and file 1099 - MISC Forms

Zero setup or transition fees
Unlimited logins to web portal for the fund and investors
No additional AML/KYC fees per investor
Audit support included

Robust Technology Platform: Mathematically-Focused System derived from rigorous research of the fundamental principles that drive the PE industry

Unique Data Structure developed to efficiently transform and aggregate the data as needed

Flexible Algorithms meticulously designed to adapt to any requirement or edge case

Modularized Automation constructed to perform any required permutation/combination of processes and calculations

Intrinsic Validations established to preserve and ensure data quality
Investor Services, Banking and Compliance Support: Generate and process Commitments, Capital Calls, Distribution Notices, Transfers and Redemptions

Complete FATCA and CRS Compliance Support

Process payments and enter wires to disburse payments via dual-controlled Fund bank account

Automated reporting functions, including Investor Transaction updates, Bank Cash Reconciliations, Consolidated Transaction Reporting for NAV's internal Accounting Team, client reporting via web-based portals
Limited Partner and General Partner Accounting: Periodic NAV Reporting

Robust Carried Interest and Waterfall Calculation Module

Automated Capital Call & Distribution Calculations

Custom Investor Reporting

Flexible Performance Reporting, including IRR, MOIC, Annualized yield, and ITD Annualized ROR calculations

Experienced in different strategies, including Venture Capital, Leveraged Buyout, Mezzanine Debt, and Real Estate

General Partner Accounting Services

Complete Audit Support
Comprehensive Reporting: Generate Capital Call & Distribution Notices in your preferred format

Combined Capital Call and Distribution Summary

Delinquent Calls

Receivable and Payables Breakup

Weekly Capital Activity Summary

Trial Balance, Balance Sheet, Account Statement, Equity Schedule

Carried Interest and Management Fee Calculations

Schedule of Operating Expenses, Change in Trial Balance

Income/Expense and Balance Sheet by Investments
Capital Call & Distribution Generation: Calls for Investments, Expenses that Impact or do not Impact Commitment and Interest

Distributions for Income, Non-Recallable or Recallable Return of Capital, and Recycling Provisions

Reallocation, Catch-Up Rebalancing, Waterfall, Carried Interest, Tax Withholding, Reinvestment, FX Adjustment, memo adjustments

A computerized running Receivable/Payable ledger by Investor based on the Bank Account history
Report & Data Delivery: Delivery of Periodic Investor Statements,Capital Call Notices, and Distribution Notices

Integrated with NAVRTA to automate delivery preferences based on each investor's profile

Flexible Delivery options, including, Email, SFTP, Web Portal, or US Post

Transmission of data files to third parties as required (ie. DTCC or IRA Custodian)