FUND MANAGEMENT
The NAV is struck tonight. Every input has to hold.
Gloree holds positions, prices and fee accruals from your administrator, custodian and order management system in one live grid, so the NAV pack and the investor report come from the same cell.
One number goes to investors. Everything else explains it.
The strike does not move.
A NAV is struck to a cut-off the fund documents set, not to the minute the last price arrives. A stale mark discovered after the strike is a restatement, and a restatement is a letter to every holder.
The administrator checks your arithmetic.
A fund administrator recomputes the same NAV from its own feed and queries the difference. A break you cannot explain by position becomes a conversation about your controls rather than about a price.
Fees accrue off figures that move.
Management and performance fees are computed on marks that can be corrected weeks later. A crystallisation taken on a number that changed is wrong in every period after it.
Workbooks
September NAV variance, held against the administrator.
Struck NAV, administrator NAV and variance by fund in one grid. When the feed returns new figures Gloree proposes each change and names the extract behind it — nothing moves until you accept it.
The systems a fund’s finance, operations and investor relations teams already report out of
The strike and the statement agree.
The figure in the investor report and the figure in the NAV pack are the same cell with the same source, not two exports taken an hour apart.
A break stays on its position.
A price difference is explained where it arose, so an administrator querying one holding does not reopen the whole strike.
Every fee traces to its mark.
Accepting a proposed figure records the extract behind it, so the answer to why an accrual moved is already written down.