GlobeOp Financial Services has launched the GlobeOp NAV Transparency Report to help fund managers provide investors with greater visibility into the monthly calculation of a portfolio’s net asset value.
The report independently confirms pricing sources, position reconciliations, fund assets and liabilities, counterparty risk concentration, portfolio liquidity and where assets are held in custody.
"Fund managers recognise that good governance attracts further investment," says Tony Glickman, global head of risk services at GlobeOp. "Pension funds and other institutional investors, guided by the ‘Trust but Verify’ principle, have made independent confirmation of assets, positions and valuations a priority. In 2009, GlobeOp saw a 30 per cent increase in due diligence meetings with investors, as well as a significant increase in the sophistication and the number of questions asked. Our new NAV Transparency Report clarifies exactly the value we as an administrator add to the NAV production process."
According to a recently released KPMG “Future of Alternative Investments” report, 78 per cent of investor respondents said they saw transparency as a major industry challenge, with 67 per cent also citing governance and regulations.
Available for traditional hedge funds and managed accounts, the report enables fund managers to get increased visibility into the portfolio risks of the fund while protecting confidential data.
Produced monthly, then reviewed and authorised for investor distribution by the fund manager, the report is distributed to investors online as part of the monthly GoBook investor statement package.
GoBook data, based on independent, third-party information, is generated from the trade and accounting data that GlobeOp maintains for its hedge fund clients. Through a single platform, authorised investors can access advanced portfolio risk analytics, monthly statements, performance and performance attribution reports and manager newsletters.
