State Street, the global provider of financial services to institutional investors, has launched eHorizon, an improved global accounting system for asset managers and institutional investors.
Reportedly, the integrated, global accounting solution delivers new levels of functionality, accommodating multiple accounting bases and providing flexibility in managing complex fund structures such as fund of funds, pooling, master-feeder and multi-managed arrangements.
State Street has said that the eHorizon automates allocations based on customer-specified methodologies and calculates accurate net asset values (NAVs) in real time at each level of the fund structure. Flexible fund cycles can also be accommodated, allowing customers to customize the methodology for reporting and valuing global portfolios.
Pat Centanni, executive vice president and head of global product management for State Street Investor Services, said: “Asset owners and managers are launching more complex fund structures, need to bring products to market faster and require more global controls around operational risk. The infrastructure required to manage the accounting, reporting and valuation of these global fund structures has become significantly more complex and multi-faceted.”
“State Street’s eHorizon system surpasses many offerings in the industry by providing a seamless, automated, and comprehensive accounting process on a single global platform. In addition, the rules-based architecture and rapid development capabilities allow increased flexibility and speed to market to help customers expand into new fund segments such as ETFs and Target Date funds,” he added.
