Financial Risk Solutions
Asset Management Software
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Asset Management Software for the
Life & Pensions, General Insurance, Re-Insurance, Captives, Hedge Fund and Wealth Management Industries

Functionality

Functionality

Invest|Pro™ Functionality Fit

Fund Reports

Invest|Pro™ provides detail fund reports for individual unitised funds. These reports are useful for giving management key indicators of a fund at a particular moment in time. Fund reports include the following information items:

These reports are easily distributable electronically to individuals or to the web.

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Fund Accounts

Invest|Pro™ not only administers the funds, but at the end of the accounting period, with the touch of a button the system can produce a full set of accounts for that accounting period.

Invest|Pro™ generates accounts figures that include

There is full Multi-Currency functionality. There is a schedule per fund for each currency - the totals for the currency are also shown denominated in the nominated base currency. The fund accounts schedule provides overall totals expressed in the nominated base currency together with subtotals for each individual currency (in which funds can be denominated).

Invest|Pro™ supports the Special Valuation Basis Approach - the basis used for fund accounts need not be the same as that used for Unit Pricing/NAV calculations. Invest|Pro™ enables the following to be provided for special valuations

Special Valuations may be necessary for example if regulatory returns used a valuation basis that differed from the basis used to transact with policyholders.

All Insurance Regulatory Returns are available at the touch of a button. Both the revenue accounts and the balance sheets are generated for Insurance Returns purposes:

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Native General Ledger

Invest|Pro™ has a native multi-currency General Ledger. Debit and credit GL postings are created for:

Invest|Pro™ produces fund accounts and regulatory returns from the GL Trial Balances. The General Ledger on Invest|Pro™ provides financial service companies with comprehensive financial controls for their funds and portfolios.

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Dealing Functionality

Invest|Pro™ manages and tracks the deal status for trades from initial order placement through to settlement. Invest|Pro™ carries out sophisticated controls to ensure that dealing operates in a safe and accountable manner. The system produces the necessary reports and notices for the management of the trading function including:

Invest|Pro™ provides a fully automated solution for the fund administration needs of companies that administer collective funds, personal portfolio bond and self invested pensions.

Financial services companies use Invest|Pro™ to manage all aspects of fund administration with security and efficiency.

Invest|Pro™ is the key link between the policyholders and the investment markets.

In a Life or Funds Company Invest|Pro™ sits between the administration system that holds policyholder data and the external investment managers. Fundamental to Invest|Pro™'s efficient processing is the manner in which the system is a fully integrated end-to-end solution.

In other words, all operational data will be fed in and out of Invest|Pro™ though automatic updates. This eliminates incorrect valuations due to user entry.

Key System Features

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Tiered Fund Structure

Invest|Pro™ supports tiered fund structures. A typical application is where a company in order to streamline the investment management process operates mutually exclusive investment pools. The primary benefit is that the fund administration burden is taken away from the fund manager enabling the fund manager to concentrate solely on investment management issues.

Level 1 funds (often known as investing funds) are set up to correspond to these mutually exclusive investment pools. The level 1 funds hold all the direct investments of the company's unit funds. Quoted funds (often known as marketing funds - the funds to which policyholder benefits are linked) are set up as higher level funds and obtain their exposure to a particular investment type indirectly through unit-holdings in the level 1 funds.

A typical example is where a Managed Fund holds only units in other internal linked funds. Another example is where Life and Pension funds share the same underlying investing funds. The Life funds and the Pension funds would be set up as level 2 funds. The level 1 funds are administered on a gross of taxation basis. Taxation for the life funds would be dealt with at level 2.

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Taxation

Invest|Pro™ supports all the tax functionality that financial houses require for the fund administration function.

Invest|Pro™ holds separate rates for income, realised gains and unrealised Gains. Invest|Pro™ allows the user to choose which method should be used to place a value on tax losses within a fund.

Functionality includes:

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Management Charge

Invest|Pro™ supports Multiple Types of Management Charges within Management Charge Groupings - an individual unit fund can have a multiple number of fund charges e.g.

Level charges as well as variable management charges are catered for.

Management charges are converted from accruals within the fund into cash through the appropriations process. There is a choice between taking deductions in cash or in units that would be credited to the shareholder box position.

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Personal Portfolio Bonds

Other systems that offer PPBs do so outside the unitised fund approach. At FRS we have pioneered a system whereby the PPB is treated as a quasi-unitised vehicle. The benefits of this approach are: -

Fund valuations are prepared using the Invest|Pro™ pricing process which approach ensures that each valuation is consistent with the previous valuation through the reconciliation of the notional prices to the previous notional price.

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Cash-Flow Notifications

When appropriations are complete, Invest|Pro™ prepares schedules of cashflows for the investment management team.

Invest|Pro™ has very comprehensive functionality for the complex process of dealing with Forecast appropriations. Invest|Pro™ supports the generation of forecast cashflows from estimated data in advance of the valuation point provided forecast liability units data is available from the operational system(s).

The Forecast appropriations supports the options available in general appropriations:

Invest|Pro™ allows the user to define minimum tolerance amounts for cash-flow reporting which if not met get accumulated in cash until the next appropriations process takes place.

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