Thomson Reuters PORTIA
Thomson Reuters PORTIA v10.0 - Now Available
Key Benefits
- Leverages one solution to support asset management, investment accounting and fund accounting, lowering system acquisition and operational costs significantly.
- Utilizes pre-packaged accounting ledger posting rules to minimize set-up time and to optimize resources.
- Supports trade allocation through performance measurement for all of your transactions.
- Leverages standard library of reports including general ledger financial statements as well as critical fund operations reports.
- Provides standard reports and the ability to customize to ensure both client and regulatory requirements are surpassed.
- Choose from a full range of deployment options, including on-site, facilities managed and full operational support.
Thomson Reuters PORTIA: A trusted solution becomes more comprehensive
Thomson Reuters PORTIA® is the investment industry's most powerful, trusted, and comprehensive middle-to-back office solution, automating the operations of more than 300 money managers in 45 countries, and managing more than $15 trillion in assets. Leveraging PORTIA’s power, flexibility and vast functionality, you can tailor PORTIA to meet your unique business requirements resulting in streamlined workflow and optimized efficiency.
Thomson Reuters PORTIA’s Fund Accounting builds on its proven expertise by extending its reach to support complex fund structures, configure a master chart of accounts with customized posting rules, process capital stock activity, define and post income, expense and distribution accruals to your accounting ledger, and strike a NAV in accordance with individual fund mandates.
Thomson Reuters PORTIA’s new fund accounting capabilities expand on existing PORTIA functionality by allowing you to monitor compliance with mandates, track performance of funds gross and net of expenses and provide client and regulatory reporting at the fund and group level.
Thomson Reuters PORTIA: Comprehensive Support for Fund Accounting
PORTIA’s Fund Accounting is designed to meet the challenges of complex, high volume, global fund managers supporting basic funds, multi-class funds, multi-sector funds or fund of funds. Its powerful design gives you the flexibility to configure the system to meet your unique needs and ensure that you are getting accurate information when you need it.
Thomson Reuter PORTIA’s inherent flexibility provides you with the choices to meet your business requirements. For example, you can define your accounting period (e.g., daily, weekly, monthly or quarterly), decide how to apply month-end accruals over a weekend and define your own rules for how to accrue and allocate income, expenses, and distributions.
Capital stock activity by fund (e.g., subscriptions, redemptions, exchanges, and reinvestments) can be easily captured through a transfer agent’s “supersheet”, an automated feed of daily capital stock activity, or manually entered.
PORTIA Fund Accounting: Net Asset Value (NAV) Manager
PORTIA Fund Accounting strikes NAVs at the total fund, share class, or sector levels based on the user defined period set up for each fund (e.g., daily, weekly, monthly). NAV calculations are based on your primary accounting basis and are inclusive of all accruals and allocations of expense, distribution and income activity.
Building upon PORTIA’s reputation for flexibility and configurability, the Fund Accounting capabilities allow you to configure numerous criteria including the calculation frequency and expense requirements. Overnight processing and user-defined posting rules allow you to define the level of automation desired.
PORTIA’s Fund Accounting: Real-time Accounting Ledger
Using PORTIA’s Accounting Ledger, funds can be tracked in one or more accounting bases --- including but not limited to GAAP, Tax and Statutory Accounting. Ledger transactions are created and stored for each accounting basis to ensure accurate and quick reporting.
PORTIA’s Accounting Ledger provides a standard chart of accounts to get you started. You can adjust the chart of accounts enabling you to achieve a custom solution without the costs of customized services. You can easily map your PORTIA chart of accounts to your internal system (e.g., corporate ledgers).
Standard pre-defined posting rules allow you to get up and running smoothly and are based on IFRS standards. You can also choose to override the standards, leveraging PORTIA’s flexibility and configurability to create alternative rules.
The Accounting Ledger and its underlying journal tables support both single currency and multiple currency funds. The journal tables hold daily records tracking the realized and unrealized gains/losses resulting from holdings, accruals and currency exchange rate fluctuations. Information can be quickly and easily calculated and returned without reviewing the entire history of the fund.
Fund Accounting: Reporting
Thomson Reuters PORTIA Fund Accounting comes with variety of standard reports to get you started. There are several standard ledger reports including: Statement of Operations, Statement of Net Assets, Statement of Changes in Net Assets, Working Trial Balance, and Cash Ledger.
Other fund processing reports include: a NAV Summary Report, a Capital Stock Activity Report, various exposure reports including a Fund of Funds Exposure Report. Users also have the ability to create their own reports in addition to the standard reports provided.