Linedata’s leading global fund accounting platform provides full portfolio and general ledger support for all fund types, including mutual funds, hedge funds, trusts, pension funds and separately managed accounts, for use by fund sponsors, investment managers and third-party administrators alike. Mfact caters for multi-currency, multi-share class, multi-manager and multi-tiered fund structures and fully automates the NAV production process.

This latest update offers enhancements in the following areas:
• Bank debt - special logic to handle the unique characteristics of income accruals, receipts and tranche reporting.
• Expenses - the automatic calculation and accrual of expenses in any currency. 
• Income interface - support for the interface of accruals, receipts and adjustments and their automatic settlement.

Further process automation enhancements have also been made around settlements and income processing during weekends, holidays and month end reporting periods. An automation layer, sitting above Linedata Mfact’s industry leading accounting engine and audit trails, allows users to achieve improved levels of operational efficiency. Transactional history and balances are easily produced using over 150 inbuilt reports and inquiry screens, with underlying data readily accessible through comprehensive inbuilt extract tools. 

Michael Galvin, product manager, Linedata Mfact, says: “We are committed to continually improving our clients’ user experience, providing intuitive business process management capabilities and exception monitoring tools. This latest release supports Linedata’s strategic vision to fully automate the production and approval of the NAV, a time saving and risk reducing development for customers.”