Reconciliation, Reporting & Billing
Reduce the total costs, improve performance and minimize accounting risks.
An often frustrating and challenging area of operations for hedge funds and asset managers lies in the reconciliation of transactions, positions, cash and valuations back to brokers, counterparties and banks. Often times this is a manual or semi-automated process requiring maintenance of a paper trail for compliance.
The Empaxis Data Management outsourced reconciliation service, powered by SmartStream, the industry’s leading reconciliation software, enables hedge funds and asset managers to automate and outsource the complete reconciliation function. With more complex instruments and greater emphasis on control and mitigating risk, Empaxis’ outsourced reconciliation service enables asset managers and hedge funds to save time and money while benefitting from access to a robust reconciliation platform.
SERVICE HIGHLIGHTS INCLUDE:
- Hosted reconciliation system
- Fully backed up, with business continuity planning built in
- Reconciliation can start as soon as the data is available, on a 24/7 basis
- Automated matching for perfect and tolerance matches
- Dashboards for monitoring trade breaks, reviewing audit trail
- Changes pushed to your portfolio accounting/general ledger system
- Works with all securities
- Can match transactions, confirms, positions, cash
- Empaxis can perform the investigation and work out any discrepancies
Empaxis Data Management not only performs each of the following services, but they can be customized to meet the specific needs of each investment office.
Reconciliation: Timely, accurate reconciliation delivery regardless of portfolio complexity, including transactions, positions, market value and cost basis to deliver accurate monthly reports quickly.
Performance Reporting: GIPS standards or proprietary performance measurement and review service.
Fees and Expenses: Calculating management fees, incentive fees, excluding special members and accruals.
Partnership Reports: Report generation in various formats saves you time and money.
Auditor Liaison: We work directly with your auditors at year-end to ensure they have the necessary documentation.
Learn how Cornerstone Advisors, Inc., with more than $2 billion in AUM, brought scalability and the opportunity for growth to its firm by outsourcing trade reconciliation. Access the Cornerstone Advisors story here.