Seamless NAVTM

Hedge Funds and CTAs have an integral role in alternative investment portfolios. Powered by our proprietary Seamless NAVTM Software, which automates the back office for exchange-traded instruments, our team of fund administration specialists provide you with industry leading NAV turnaround and the highest level of client service. Use CommonSubDoc, our cutting-edge onboarding platform, to manage your relationships and capital activity. Why Formidium? Because digital is our element.

Download Brochure
Solutions for the CTA/CPO Industry

Fund Services

The Formidium Fund Services team of industry veterans has spent many years building and testing a more efficient method of fund administration using progressive, user-friendly, and secure technology. As a result, Formidium provides its clients with an industry leading NAV turnaround and customized reporting solutions, all at competitive prices.

Fund Administration

Assistance with fund set-up; documents review; regulatory filings; treasury services

Fund Accounting

Reconciliation of trades; full portfolio, fund, & investor accounting; NAV calculations; automated waterfall, management & performance fees

Investor Services

Process investor activity with e-subscription technology; AML checks; customized investor reporting & communications portal

Dynamic Technology

In-house development team can create white label web portals for clients and their investors

Treasury Services

Open & maintain bank accounts; process investor cash movements; pay invoices; manage collateral & margin movements

Audit Support

Financial statement preparation & distribution; serve as main contact for auditors & audit queries

Proprietary Technology

Seamless NAVTM consolidates and automates all the fund administration functions and reporting for our clients. Seamless is highly automated and scalable with superior ability to pull large volumes of complex data and CTAs.

CommonSubDocTM is a web-based investor onboarding platform designed to help manage your investor relationships and simplify the investment process. CSD solves the challenges of managing investor activity through its comprehensive online platform.

How Seamless NAVTM Can Help

We solve your back-office challenges with a complete web-based general ledger investment accounting system

Solution for multiple asset classes, currencies and fee structures
Handle complex G/L allocations & fee calculations
Detailed reporting of portfolio at fund & investor level
Rapid and easy onboarding on Formidium platform
Side pocket handling & customizable reporting platform
Access to multiple data points for manager & investor
Easy integration with external data sources
Transparency to portfolio exposure, attribution & tax lot reporting
Automated financial statements & highlights

We Solve Your Investment Backoffice

Onboarding

Progressive Technology

Web technology with robust I/O
framework

Relationships

Domain Expertise

Over 2 million hours spent on
research & development

SOC1/SOC2/SOC3 Audits

Mass Adopted

Successful use cases with 950
active funds in managers

Strategies

Scalable Solution

Scalable technology solution handles
large volume of data

Exchanges

Easy Integration

Flexible integration with external
sources/systems

Transfer Agent

Global Support

Dedicated IT help & support
from product team

AML/KYC

Client Servicing

Committed client service team in
multiple time zones

SOC1/SOC2/SOC3 Audits

Audited

Comprehensive cyber security controls
& SOC 1, 2, & 3 audited

Competitive Pricing

White-labeling

Interactive GUI & white labeled
branding

Services Description

Fund Accounting
  • Daily NAV calculations and accounting
  • Management, performance and all other fee calculations
  • Daily, weekly, or monthly portfolio and fund accounting
  • Management and performance fee calculations
  • Daily maintenance of cash and general ledger
  • Easy historical accounting uploads
  • Daily independent valuation and NAV calculations
  • Calculation and tracking of complex performance, management and other fees
  • Daily maintenance of general ledger
  • General ledger supports all currencies and asset classes
  • Preparation of year-end and semi-annual financials in accordance with US GAAP or IFRS
  • Communicating and liaising with auditors
  • Respond to audit queries and adjust financials as needed
  • Easy historical accounting uploads
  • Detailed reporting to support all general ledger line items
  • Monitor and record daily corporate actions
CTA Fund Administration
  • Assist with setup and fund launch
  • Data and analytics to drive performance
  • Experts who understand your business
  • Daily reconciliation of trades, positions, and cash balances
  • Full transaction ledger of trading and non-trading activity
  • Adherence to Foreign Account Tax Compliance Act (FATCA)
  • Common Reporting Standard (CRS) compliance
  • Commodity Pool Operator (CPO) Pool Quarterly Reports (PQR)
  • NFA reporting
Hedge Fund Administration
  • Assistance and guidance with fund launch
  • Data and analytics to drive performance
  • Experts who understand your business
  • Daily reconciliation of trades, positions and cash balances
  • Robust NAV reporting package
  • Full transaction ledger of trading and non-trading activity
  • Experience with quantitative, high frequency, indexing, credit, event-driven, global macro, arbitrage, and other strategies
  • Integration and data feeds with brokers, custodians and market data providers
  • Detailed exposure, risk, performance and other portfolio reporting and data feeds
  • User-friendly secure web portal for reporting and data feeds
  • Calculation of fund and investor rates of return
  • Adherence to Foreign Account Tax Compliance Act (FATCA)
  • Common Reporting Standard (CRS) compliance
  • Form 13F filing
  • Form PF preparation
Impact Fund Administration
  • Robust NAV reporting package
  • Investors may elect to reinvest or be paid for any distributions
  • Adherence to Foreign Account Tax Compliance Act (FATCA)
  • Common Reporting Standard (CRS) compliance
  • Ability to integrate and easily pull data from multiple brokers, custodians, and market data providers
  • Form PF preparation
  • No extra charges for derivatives including options, futures, and other over-the-counter (OTC) securities
  • Ability to track impact and provide transparency to investors
  • Data aggregation and analysis via dashboards and reports assists in impact determination
  • Form 13F filing
Separately Managed Account Services
  • Daily reconciliations and valuation
  • Daily fee calculation and a/c value estimate
  • Prepare month end 13 column performance table
  • Prepare CTA composite for each trading program
  • Prepare CTA performance capsule for each trading program
  • Prepare fee invoice for the client
  • Reconcile with the accounting of the client (if available)
  • Prepare and provide support for advisory fees
Treasury Services
  • Setup and maintenance of funds bank accounts for capital activity, operations
  • Maintaining security controls and authorization levels for each counterparty or service provider
  • Setup and maintain of funds bank accounts for capital activity, operations
  • Management of securities finance transactions
  • Optimizing the use of margin and collateral balances
  • Managing excess cash balances and sweep vehicles
  • Maintain security controls and authorization levels for each counterparty or service provider
  • Transfer balances between funds bank and custodian/prime brokerage accounts
  • Expense budgeting, accruals and invoice payments
  • Centralized cash payments team
Investor Services
  • Subscription, redemption, and transfer transaction processing
  • AML controls and checks, according to fund domicile
  • Maintenance of investor documents (available for audit)
  • Answer to investor queries and information requests
  • Respond to data and information requests from local regulators, directors, and/or corporate secretaries
  • Investor statement preparation and distribution
  • Initial and ongoing investor AML/CFT screening aligned with the regulations of the fund’s jurisdiction
  • Serve as main point of contact for investor queries and requests
  • Customized investor reporting
  • User-friendly secure investor web portal
  • Investor statement preparation and distribution
  • Support for daily or any other subscription, redemption and transfer dealing frequency
  • Maintain of investor documents
  • User-friendly secure investor web portal
Audit Support
  • Financial statement draft preparation in accordance with GAAP or IFRS
  • Audit timeline determination with clients and auditors
  • Liaise and act as main point of contact for auditors
  • Generate of cost roll forwards and other supporting reports
  • Generate footnotes and related tables
  • Address auditor comments and escalate to client as necessary
  • Distribute final financial statement to investors, exchanges, regulators and other parties
  • Prepare of year-end and semi-annual financials in accordance with US GAAP or IFRS
  • Respond to audit queries and adjust financials as needed
Technology Portals
  • Dynamic, user-friendly and intuitive web portals for clients and their investors
  • Securely share fund documentation and client reports with investors
  • Option to white label with client branding
  • In-house development team customizes to meet client needs
  • Built with multiple AWS disaster recovery sites

Latest Updates