The vendor has updated its fund accounting platform, Linedata Mfact 11.3, with the help of an automation layer.
Michael Galvin, product manager, Linedata Mfact
Linedata officials say the updated fund accounting platform, Linedata Mfact 11.3, is intended to help clients automate the production process for calculating net asset values (NAVs) with the hope that this streamlining will free up staff to focus on higher value tasks.
The streamlining and automation of key operational processes is accomplished via the inclusion of an automation layer, dubbed Linedata Optima, that oversees the Mfact accounting engine and audit trails, vendor officials say.
Linedata Optima, an enhanced version of the vendor’s business process management (BPM) tool was launched in February “to unlock operational, fund and system data,” officials say. Optima includes an interactive dashboard, visualization of real-time data and drill down capabilities to help with process analysis and to optimize resource allocation in support of fund administration.
“Mfact is the engine that produces the transactions to both create and support the NAV,” Michael Galvin, product manager, Linedata Mfact tells FTF News. “The automation layer is needed to schedule the engine to run at the correct time and also to take the data that is produced and return to the user in a readable and actionable format.”
Available now, Linedata Mfact 11.3 offers portfolio and general ledger support “for all fund types, including mutual funds, hedge funds, trusts, pension funds and SMA’s, for use by fund sponsors, investment managers and third-party administrators alike,” officials say. Mfact is also offered for multi-currency, multi-share class, multi-manager and multi-tiered fund structures and “fully automates the NAV production process,” officials add.
Galvin says that full automation is important because “it enables our clients to streamline their NAV production process,” which can allow staff to be redeployed to more demanding tasks.
Overall, officials say that Linedata Mfact 11.3 offers the following enhancements:
- Bank debt: “Special logic to handle the unique characteristics of income accruals, receipts and tranche reporting;”
- Expenses: “The automatic calculation and accrual of expenses in any currency;”
- Income Interface: “Support for the interface of accruals, receipts and adjustments and their automatic settlement.”
- And Further Process Automation enhancements “have been made around settlements and income processing during weekends, holidays and month end reporting periods.”
In addition, transactional history and balances can be produced “using over 150 inbuilt reports and inquiry screens, with underlying data readily accessible through comprehensive inbuilt extract tools,” officials say.
“We are committed to continually improving our clients’ user experience, providing intuitive business process management capabilities and exception monitoring tools,” Galvin says in a prepared statement. “This latest release supports Linedata’s strategic vision to fully automate the production and approval of the NAV, a time saving and risk reducing development for customers,” he adds.
Linedata, based in Neuilly-sur-Seine, near Paris, has been in existence for 20 years and has more than 700 clients in 50 countries, officials say. The company has 1,300 employees in 20 offices serving the asset management and credit industries.
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