Fund Accounting Services

In conjunction with Transfer Agency, Fund Accounting is one of European Fund Administration's core competencies.

EFA uses the know-how in producing NAVs and experience gained via the administration of over 2,000 funds to provide you with accurate and timely accounting.

 

Transaction processing

To detect and avoid any discrepancies in trade data, EFA offers matching of all transactions from investment managers, custodian banks, prime brokers, broker/dealer etc. with data from the appropriate counterparty, ensuring all trade information is 100% accurate.

For more information on transaction processing, visit Trade Management

 

Portfolio valuation

EFA's portfolio valuation services aim at providing you with accurate, fair and independent pricing, handling securities and instruments held within any type of fund.

Full range of instruments are priced: EFA's extensive pricing database holds information on almost 40,000 securities including: warrants, rights, options, futures and structured products.

Sources include Six Financial Information®, Thomson Reuters® and Bloomberg®. The pricing source can be customised per type of instrument and per sub-fund. Plausibility controls are performed daily to ensure accuracy.

For illiquid or non-independently priced financial instruments, EFA's Complex Valuation Services aim at providing fair valuation and independent pricing solutions to its clients.

 

Accounting methods

EFA uses appropriate accounting norms – Lux GAAP, IFRS, USGAAP, French etc. - to carry out book and record maintenance and/or produce financial statements.

 

Tax

EFA supports the calculation and communication of the investment funds' specified NAV-daily and annual tax figures, as required for the funds' investors resident in jurisdiction such as e.g. Germany, Austria, Belgium, Italy and United-Kingdom.

Our longstanding collaboration with the funds' designated tax auditors ensures timely certification and publication of the annual tax figures according to the regulations of the different tax regimes.

 

Corporate Actions

Within our Securities Database Department a dedicated team collects verifying corporate action information and transmits it to the Accounting Department.

  • EFA's corporate actions database is automatically updated on daily basis.
  • The treatment of corporate events is applied on a centralised basis for all funds administered by EFA.
  • Corporate actions are processed at ex-date (where applicable) to ensure they are perfomance neutral.

Tax implications

A dedicated tax module within EFA enables the automatic management of withholding tax on a provisional basis. The module takes into account the impact of tax treaties, of the type of instrument and its country of issue.

Visit Transfer Agency: Corporate Actions for information on how events are treated in EFA's TA system.

 

Net Asset Value (NAV) calculation

EFA calculates over 207,000 NAVs per year, according to legally required frequencies: quarterly, monthly, bi-monthly, weekly, bi-weekly or daily.

 

Controls and Compliance

Valuation controls

EFA performs automated security price-controls checking day to day fluctuations as well as consistency versus bench-marks.

NAV monitoring

In order to avoid NAV-errors, EFA carries out NAV-controls at a number of levels, including consistency checks versus benchmarks.

EFA also performs comprehensive automated ex ante (pre NAV) and ex post (after NAV) controls to monitor adherence to investment policy and regulatory restrictions.

For more information on controls, visit our Compliance & Risk management page.

 

Reconciliation

EFA performs systematic securities and cash reconciliation with transfer agents, custodians and prime brokers, and offering extensive reporting to all parties involved.

 

Reporting

EFA provides reports customised according to client selected parameters through our proprietary interactive tool for the generation and delivery of fund reports, EFAnet.

Download Area. This data base contains all documents published, thus providing quick and centralized access to any of the documents.

For an overview of EFA's entire range of report and delivery options, visit our Reporting section.