EDD Fund Services, with offices in Chicago & London, performs three-way reconciliations with trading counterparties (prime brokers, custodians, ISDA relationships) and administrator data of all positions, cash accounts, accruals and activity. We also ensure the marks, market value, and performance in Safari match the administrator. All of this information is captured within the back office portfolio accounting system daily, which is one system which sits on the portfolio manager's/trader's desktop. With such levels of detail, EDD can produce effective NAV estimates, calculated on a daily basis and be distributed to investors at the Investment Manager's request , but independent from any marking by traders or others within the Fund Manager, providing additional comfort to your investors. At all times but especially at month end/accounting period end, EDD works effectively with your administrator.
Within the Safari system, all confirmations are maintained within the system, providing not only the Investment Manager with a record, side by side of the legal documentation, but this also serves as an invaluable source for administrators and auditors of the fund , who can be given direct read-only access to the system on request. This allows both the administrator and, at year end, the auditor to achieve much more without distracting the investment management personnel.
Critical fact: EDD operates independently of both the investment manager, and the administrator. This means that we are able to ensure that the administrator performs their core tasks striking NAVs and processing formal subscriptions/redemptions. This allows EDD to ensure that the fund accounting is done to the highest degree of accuracy.
