Trema, the premier provider of strategic software solutions for the financial industry, has announced that it has launched NAV Monitor, the industry’s first solution for the real-time calculation and reporting of Net Asset Value (NAV). NAV Monitor includes an integrated auditing tool, which is specifically designed to mitigate market timing. With real-time NAV Monitor, the overall process of subscription and trading will have a full audit trail, exposing any discrepancies between the fund unit value and the time of subscription.
“As a fund manager, when you buy a fund unit, you do so based on the published price,” commented Arnaud Leconte, Product Manager, Trema. “Using real-time NAV Monitor, the published price will come from within the module that incorporates this auditing functionality. This will give full transparency as to when the funds are traded and, like an aeroplane’s black box, it will give a detailed record of all events. With market timing scandals uppermost in everyone’s minds, this solution will provide fund managers with an effective method of demonstrating reliability and integrity of funds to investors.”
NAV Monitor will deliver NAV data in real-time, giving managers instant visibility on the outcome of their investments. Real-time NAV Monitor supports comprehensive compliance, portfolio modelling, and order management functionality as well as fund bookkeeping. The new module can be seamlessly integrated into Trema’s fund management system, Finance KIT, and will be immediately available to all Trema’s existing clients.
Jeanne Capachin, Research Director, Financial Insights (an IDC company) comments, “The SEC has found recently that half of the 88 largest mutual fund companies have had arrangements that allowed select customers to use market timing. With an auditing functionality inherent within an NAV module, investors can be confident that the funds managed by institutions using such a solution are fully transparent. In these risk-averse times, Real-time NAV is a welcome advance and should help to build a more confident financial industry.”