Confluence Launches UCITS Expense Budgeting Tool

Confluence has released a cloud-based, automated budgeting solution to help UCITS managers manage their fund expenses.

The solution, Unity NXT Budgeting, enables fund managers to automatically collect net assets, foreign exchange rates, and bulk invoice payment activity; allocate payment activity to appropriate instruments; create fund-level budgets in multiple currencies and project and allocate future expenses; and calculate, forecast and monitor margin data.

“With Unity NXT Budgeting, fund managers can now reap the benefits of a fixed operation charge ratio without struggling through the pain of a spreadsheet-based expense management solution,” says Skip Smith, chief operating officer of Confluence. “Now for the first time, fund managers can make highly informed product decisions about which fund and share class offerings can optimize revenue potential.”

”Unity NXT Budgeting allows managers to allocate expenses fairly across multiple currencies and share classes, something that was nearly impossible to do accurately with spreadsheets,” says Melvin Jayawardana, European market manager for Confluence. “Managers now have an automated solution that will eliminate manual back office processes and provide transparency and governance around expense management.”