Quintillion, a hedge fund administration firm, has completed the integration between HWM Mantra, its investor registration and incentive fee calculation system, and Advent Geneva, its accounting platform.
The integration allows for the automatic transfer of profit and loss allocations from Geneva directly into Mantra.
HWM Mantra has been designed to meet the business and technological challenges that have been driven by the rise of increasingly complex and sophisticated alternative fund markets.
The integration enables Geneva to feed all of the fund’s portfolio general ledger balances directly into Mantra, mapping each line item across the fund’s individual classes or series. This enables Mantra to automatically create all the individual net asset values using its profit loss allocation functionality. This automated process removes any risk of errors associated with manually inputting multiple NAVs into the share registration system.
The integration also provides for increased investor level reporting where investors can receive their individual gains/losses broken down by up to 30 general ledger report categories such as tax exempt income and interest income, helping to facilitate more in-depth investor level reporting such as K-1 reporting.
Will Callaghan, investor services manager at Quintillion, says: "We are delighted to have been able to further automate and improve our established levels of technology integration to add to our transparent investor reporting suite. Removing this manual step with the inherent risks associated with manually entering NAVs incorrectly for reporting to investors has helped us achieve our commitment of utilising our technologies to automate all aspects of the investor services function."