Our client is a large fund manager with over USD $100 billion in assets under management and dozens of fund structures; some with straight forward terms and others with complex master-blocker relationships and inter-fund conditions.
The fund manager faced a challenge that all funds, with or without complex fund structures and fund terms, needed to be controlled and executed by several teams across departments. The complexity therefore entailed the management of the structures, and the communication among the teams to generate infallibly correct calculation results and reports for the investors every period throughout the year.
This work had to run in parallel with other BAU processes, such as setting up new funds, management of investments and closing the periods, which consumed significant amounts of the team’s time.
qashqade has provided the fund manager with an application, where all the funds’ terms and conditions can be viewed in an accessible user interface for all the configurations necessary. All the complexity can be covered within the tool and are therefore auditable, reviewable, and accessible across the teams for seamless operations and inter-team communication.
The ultimate goal for qashqade was that the application can be used as a self-service tool by the fund manager, keeping the product team agile and on their toes. New structures and innovative fund terms can be dealt with in the existing product setup, or they can be accommodated within weeks.
The qashqade team’s expertise with hundreds of implemented funds and their terms, allowed the fund manager’s teams to challenge their own understanding and interpretation of the terms of their funds and their current implementation which was mainly in spreadsheet models.
The constructive discussions enabled the teams’ confidence in the up- and downstream data for recording, accounting, and reporting as well as executing the funds’ terms in the most efficient way. It gave the teams the assurance that calculation results can be repeated effortless and regular stakeholder reporting can be provided with consistent quality and without delay.
With qashqade at their disposal, the fund manager’s teams can not only deliver calculation results more consistently with less effort involved, they can increase their operational excellence by focusing on process and reporting improvements.
The fund manager’s teams now have more time to invest their expertise in areas which add more value to the company, without the risk of running into issues regarding communications with their stakeholders or delayed accounting entries. They are also now able to be more transparent with their investors where needed, without huge work effort and delays.
With qashqade at their disposal, the fund manager’s teams can not only deliver calculation results more consistently with less effort involved, they can increase their operational excellence by focusing on process and reporting improvements.
