NAV / Unit Pricing automates the daily process of calculating Net Asset Values (NAV) and the striking of NAV Prices (or Unit Prices) for individual funds and their classes, or across any interfunded investment structure.

NAV / Unit Pricing delivers efficient, scalable valuation and unit pricing for asset owners and asset managers who operate in-house fund administration, or for third party service providers offering fund administration outsourcing services. Pre-pricing and post-pricing validations provide assurance that operational controls are fully implemented and consistently applied.

NAV Pricing

NAV / Unit Pricing automates all stages of a fund’s NAV calculation and generation of NAV and Unit Prices. It delivers a repeatable operating model end-state and eliminates the need for firms to undertake a process re-engineering exercise to increase efficiency in the following activities:

  1. Loading of external valuations, cash flows and supporting data
  2. Pre-pricing validations of source data
  3. Calculation of gross asset values
  4. Calculation of management fees, performance fees, rebates and tax provisions
  5. Calculation of net asset value
  6. Calculation of unit price, crediting rate or allocation of value
  7. Validations of prices against benchmarks, dependent prices and underlying assets
  8. Approval and release of prices

NAV Calculation Features

NAV / Unit Pricing provides a rich set of calculation features include:

  • Valuation and pricing for periodic (daily, weekly, monthly etc.), technical/hard close, indexed and ex-distribution pricing
  • Single price or dual price calculations such as NAV, bid, offer, or swing prices, as well as crediting rates
  • Multi-class, multi-currency and hedged share classes
  • Calculation of management fees, performance fees, tax provisions and rebates
  • Multiple pricing points and complete or partial pricing re-runs
  • Capital and income pricing with income equalization
  • Client specific calculation templates, with flexibility to configure client or fund specific business rules

See NAV Calculation & Pricing to find out more.

Market Data Validations

  • Market Data Validations includes:
    • Validation of security prices, market indices and FX rates
    • Generation of daily re-weighted composite benchmarks
  • Generation of daily re-weighted dynamic benchmarks using actual fund asset weights for best possible comparison.
  • Comprehensive price validations allowing users to manage validation breaches on an exception basis.

NAV Movement Analysis

  • NAV Movement Analysis provides a hierarchical NAV movement breakdown, with tolerance checking.
  • Ability to manage multiple tolerance settings across hierarchies of clients, products, sectors and portfolios.

Integration

  • Uploads, merges and validates data from multiple sources, including accounting systems, registry and transfer agencies, and external data providers, through pControl's native Data Manager.
  • NAV Dissemination (optional) provides fund accountants the ability to define and format NAV and related data extracts for automated distribution to clients.

Extensibility

  • Where all Fund Accounting functions are undertaken within pControl then NAV / Unit Pricing directly utilizes pControl's single record Fund Ledger processing, Gain / Loss Management and Account Views functionality.
  • Where direct asset valuations and transactions are required to be imported from external accounting systems or Third Party Administrators, then Asset Level Validations (optional) may be deployed.
  • For taxable entities, Tax Expense (optional) delivers actual daily tax expense values directly into the NAV calculation process.

Service Level Aware

All pControl solutions are Service Level Aware and can internally monitor and escalate late running events such as late data arrival, and late override / approvals and final release within operational cut-offs and processing calendars.

Operations teams can monitor Service Level compliance through the following dashboards:

  • Production Summary dashboard to deliver progress monitoring of all daily NAV calculations and NAV/Unit Price approvals and release for each processing date.
  • Attention Status Monitor dashboard to provide real-time exception monitoring and aging for any activity with critical completion or Service Level Agreement deadlines.

NAV / Unit Pricing is stakeholder and auditor friendly through a full audit trail of all pricing activity, delivery of daily reports via email to compliance teams, trustees and pricing team members.