Northern Trust has expanded its suite of reporting for custody clients to offer comprehensive views of investment information on private market assets held in a range of commingled and unitized fund structures. Northern Trust’s Alternative Funds (AF)-Fund Valuation Status Summary integrates data including cash flows and valuation information to assist clients in their management and due diligence of these specialized assets.
The Alternative Funds (AF)-Fund Valuation Status Summary, available via Northern Trust's multifaceted online portal, Passport®, complements Northern Trust's comprehensive reporting on partnership investments in private equity, real estate and other alternative assets. The new summary report combines alternative asset holdings information from Northern Trust's portfolio valuation records with data sourced from fund company statements to deliver consolidated pricing, market value, valuation, and statement tracking information for clients invested in alternative funds.
'As clients increase their exposure to alternative assets they need tools that make it easier for them to track these assets,' said Paul Finlayson, product manager for Northern Trust's Alternative Assets products. 'Northern Trust’s reporting is designed to provide clients with the specific data they need, so they can focus on analysis rather than data crunching and scrubbing.'
The Fund Valuation Status Summary presents information from a variety of fund types, including commingled funds, unitized hedge funds, money market funds, Canadian pooled funds, unitized real estate funds and other alternative unitized funds. The new report eliminates the need for investors in alternative assets to locate, gather and normalize data from various fund sponsors. The summary also allows clients to quickly identify funds that have market values based on lagged, estimated or final values or which represent material holdings that warrant additional scrutiny. Clients can view audited data for a particular month-end and daily data using the best information available from fund company statements.
'The alternative fund valuation summary is useful as a reconciliation and audit tool to assist the accounting department in our due diligence and review of alternative assets. As our company is a significant investor in private equity and other alternative assets, my department appreciates Northern Trust's commitment to providing extensive reporting,' said Max Giacomazzi, Vice President, Finance, The Church Pension Group.
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