Update and Edit Post Portfolio Module (PM) - Enhancements have been made to the Update and Edit Post PM process to allow users to execute Update and Edit Post PM for a future time period, beyond the current open Accounting Period. For example: if the current open Accounting Period is 1/1/2010 to 1/31/2010, the added enhancement will allow users to execute Update and Edit Post PM through 4/30/2010 and provide Portfolio report capabilities through the extended period as well. This functionality may be executed at both an Entity and an Enterprise level.
Enterprise-level Update and Edit Post PM is located within the Operation Chain. A new Operation option has been added and labeled, Update PM by Date, which will accept a date input through which the update process will run. Use the Operation Chain functionality to execute the Update and Edit Post PM process across multiple Entities.
Entity-level Update and Edit Post PM is located in the Portfolio Module menu immediately above the standard Update and Edit Post PM menu option. The new menu option is labeled, Update and Edit Post PM by Date . Upon selecting this new menu option, the user is presented with a screen allowing the user to enter a date through which to run the update process.
Modeling & Rebalancing - The following enhancements have been added to the Modeling & Rebalancing tool available through Main à Enterprise Portfolio à Modeling & Rebalancing:
- Historical Tracking - Users may now track Model Assignments and Model Definition records historically. This will allow users to track variances over time as investment strategies change. Historical reporting will support target to actual comparisons based on the model definitions for a specific date.
- Exclusion of Non-Portfolio Assets - The Modeling & Rebalancing functionality now optionally allows for the evaluation of Portfolio Assets only (i.e. excludes non-portfolio assets) when comparing Models to Actual and when generating Rebalancing Sessions.
Transfer & Gifting - The Transfers & Gifting functionality has been updated to allow for mass transfers of tax lots.
Accounts Payable: Enterprise Payment Cycles - An Enterprise-level Accounts Payable Module has been added to allow users to manage the Accounts Payable remittance process across multiple Entities from within a single location. Payment Cycles may be created and checks printed in the same batch across multiple Entities within the Enterprise.
General Ledger Transaction Reconciliation Process - Clients who use the General Ledger Transaction Reconciliation tool will notice that the reconciliation process has been enhanced to accommodate the concept of reconciliation sessions. Additionally, users may now indicate how the System Beginning Balance field is populated during reconciliation, either via a system calculation or via manual input by a user.
Dashboard Enhancements - The existing Enterprise and Entity level Dashboard Inserts that display Security information have been updated to display the Security Name, in addition to the Security Identifier. This new feature provides a more complete picture of holdings from within a single location.
Synthetic Benchmarks: Ability to Track Historical Records - The Benchmark Rates (Synthetic) functionality has been enhanced to allow users to associate an Effective Date with both a Synthetic Benchmark record (in order to track concentration changes over time), as well as the assignment of the Synthetic Benchmark record to other data within ATWeb (e.g. Security Class Options, Entities, etc.). This feature improves historical reporting, so that the appropriate benchmark comparisons can be made as investment strategies may change over time.
Accounts Payable: Gifts
- eSignature on Checks - A Gift checkbox has been added to the Add Bill window within the Accounts Payable module. For clients who use eSignatures, enabling the Gift checkbox suppresses the printing of the eSignature on the corresponding check output in order to require a physical signature on the check.
- Bank Account Setup - A new option has been added within the Approver tab of Bank Account setup, which allows user accounts that are setup as approvers to be flagged as eSigners. In order for eSignatures to be added to checks, the user account must be flagged as the eSigner. If there are multiple user accounts setup as approvers, only one can be configured as the eSigner. Clients using eSignatures must configure the eSigner on each Bank Account by navigating to Modules à Setup à Banking Module àBank Accounts à Approvers.
Portfolio Modules: Tracking Futures – Users now have the ability to track cost basis for futures contracts and other notional securities without the initial variation margin posting to the General Ledger (both buy and sell side).
Investor Fee Updates
- AUM Fees (i.e. Management Fees) – A new AUM fee option has been added to the Investor Fee Structure engine called In Advance (Prorated Withdrawals). This fee functions in a similar manner to the traditional In Advance fee, but includes logic to evaluate investor capital withdrawals in the calculation of the fee.
- Income Fees (i.e. Performance Fees) - A new configuration option has been added that allows users to assign and allocate performance fee proceeds to multiple General Partners within a single entity. Prior to this release, all performance fee proceeds had to be allocated to a single General Partner. The Equity account setup (Modules à Setup à General Ledger à Equity) now allows a user to assign the “General Partner” designation to multiple equity accounts. Upon indicating that an account is a “General Partner”, an additional field labeled Fee Allocation will be displayed. This field may be populated with the percentage of the performance fee allocation that each General Partner should receive.
- Trial Balance - This report now contains an option to run the report for the Year-to-Date. Selecting this checkbox when running the Trial Balance report produces Year-to-Date values for the Revenue, Expense and Equity accounts.
- Pricing Variation (Date to Date) - This report now includes the following changes:
- The report can now be run at the Enterprise or Entity Level. Generating the report at the Enterprise-level can be accomplished by highlighting all entities on the Entity tab within the report parameters.
- Sorting options have also been added to the report parameter screen.
- Account Reconciliation Detail - The Account Reconciliation Detail report has been updated to incorporate the concept of sessions from within the Transaction Reconciliation tool. The Accounts tab in the report parameters screen now includes a Session End Date dropdown list near the bottom of the screen. Selecting the Load Dates button will populate the sessions available for view.
- Entity Overview - This report provides a snapshot presentation of an Entity’s assets as of a specific date. The report includes graphical depictions of asset allocation, performance and changes in value. This report requires configuration of Security Classes and Portfolio Models. The Entity Overview report is available in the Portfolio Report Types category of the Reporting Module and may be generated to PDF or Excel.
- Performance Measurement by Security Class (with Benchmarks) - This report provides two levels of portfolio detail, aggregate security class option returns and target to actual allocation percentages. The report compares the returns of each Security Class Option to its assigned Benchmark, provides an actual aggregate return for all Securities, and provides aggregate benchmark returns for comparison.
Archway Development released three (3) integration-related enhancements for the following third party data providers:
- BNY Mellon (SEI system) – Added Account Balance Integration
- Fidelity – Added Account Balance Integration
- Schwab – Updated GL integration to utilize more granular Transaction Type codes
About Archway Technology Partners
Archway Technology Partners is a global software company supporting the operations of private investment companies such as Hedge Funds, Fund of Funds, Family Offices, Multi-Family Offices, Fund Administrators and Venture Capital Funds. Archway’s flagship platform, ATWeb, is an industry leading on-demand enterprise software solution for the Investment Industry. ATWeb clients enjoy web deployed tools available 24/7. ATWeb is the industry’s only application that has successfully integrated a full G/L, investor relations, portfolio accounting software, fund accounting software, partnership accounting software, coupled with a full suite of financial modules including accounts payable, accounts receivable and budgeting – a true standard in one solution.