Northern Trust Launches PE Fund Manager Tracker
Wednesday, October 06, 2010
Northern Trust has launched a portfolio reporting and monitoring
solution for private equity fund-of-fund managers, which enables managers to
track, in detail, their fund-of-funds holdings and valuations right through
to portfolio company level.
Explaining the concept of the product, Head of Global Product and Strategy
for Europe and the MENA region, Mark Schoen said: “Detailed tracking of
underlying investments by a private equity fund-of-funds manager can be a very
time-consuming, specialized and resource-hungry, middle-office operation. Our
fund and investment tracking solution can provide clients with a high level
of granularity and reporting that effectively ‘looks through’ the
underlying funds to the ultimate investments.”
The product is an enhancement of the company's previous solution, offering:
- Recording of transactions at the underlying investment company level;
- Valuation processing at the underlying investment level, adjusted real-time
by cash-flows;
- Portfolio reporting which can include diversification by geography, industry,
vintage year, or as required;
- Summary investment reports;
- Specific underlying investment reports such as unique investment exposure
across all funds; and,
- Benchmarking performance against a range of Indices
“Northern Trust developed this offering in line with our continuing focus
on tailored solutions for clients,” added Peter Cherecwich, Chief Operating
Officer for Corporate and Institutional Services at Northern Trust.“As
a means to diversify risk and improve performance, investment managers often
select fund-of-funds investments. Through our sophisticated reporting solutions,
clients are better equipped to make informed investment decisions, which take
into account all aspects of their investments.”
As at January 1, 2010, Northern Trust was providing private equity fund administration
services to over 60 different client groups, covering 113 funds. |
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