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MIK Fund Solutions, a leading provider of decision support software solutions for alternative asset managers, today announced that it will provide a new version of its treasury management software. MIK Treasury Management software moves well beyond administrative functionality and “treasury in a box” to leverage treasury as a critical component of the performance equation. To move beyond mere “treasury status”, MIK delivers treasury as a tool that enables managers to make informed decisions that affect strategy and trading. The enhanced capability builds on software currently available, providing managers with a greater universe of information that affects not only portfolios but the fund as a whole.
MIK pioneered advanced treasury management capability and the latest iteration builds on the already unparalleled offering. MIK now delivers:
- · Capturing data at the fund, Strategy level – allows fund level loaded income/expense capture
- · Recons at the fund level – PB Recon and swap recon – ensures that no one fund is getting better borrow rates then another
- · Prime broker reconciliation Date Range – keeps daily recon facts up to date with latest and greatest period to date Prime Broker reporting
- · Ability to map securities using ‘Security Identifier override screen’ – allows for easy redirect of multi listed securities to one common security for easy cleanup of recons
- · New Management Reports, Charts, and Graphs:
O Income expense report – no double counting of the same expense at the net and gross level (fee, rebate and short proceeds credit)
o Borrow Temperature Chart -with details pop-up showing the details of one portion of the graphic
o Margin concentration Chart - with details pop-up showing the details of one portion of the graphic
o Margin Profile Chart – shows the concentration of margin concentration by counterparty
o Cash Balances recon – settled cash balance recon (balance vs. balance)
o Margin trend Graph – Display margin component (Equity, net Excess,) trends over time.
o Wallet Share Reporting – calculate and report wallet share on financing activities.
- · Financing calculator – provides the ability to calculate financing related accruals of various types
- Charge costs back to portfolio manager or any specific level required. (longs, shorts, swaps based on varying rules)
- Create and apply wallet share assumptions by asset class
- · Administration screens
o Broker - Broker definitions control how income and expenses are reported
o Broker Group – aggregations for counterparty exposure and margin reports as well as for wallet share
o Custodian Account - mapping allows a many to one relationship of accounts to custodians
- · Broker Reference Rates and Treasury Reference Rates definitions by country instead of exchange - greatly reduces the repetition of exchange entry
- · Broker Reference Rates Time Series – Time series to manage the recalculation of Income/Expense accruals as they change over time.
Over 65 multi-billion dollar hedge funds, fund of funds, and private equity funds rely on MIK for sophisticated software solutions for real-time PNL, Data Warehousing, Performance/Attribution, Compliance, Treasury Management, Security Master/Price Management, and Broker Relationship Management. Clients are assured that these applications are fully integrated with an advanced approach to the warehousing of the underlying source data (be it internal or external). The resulting tailored reporting gives managers of any asset class and strategy the ability to assess risk accurately and make informed trading and portfolio decisions that directly impact performance and productivity. As a result of this approach, the confidence that clients place daily in MIK has secured its place as the innovator and industry leader.
Fadi Kaddoura, CEO of MIK said: “The suite of offerings we provide globally are designed with two goals in mind: first, to anticipate client needs in advance of industry trends; and to provide decision software that is tied to the investment thesis - giving the opportunity to affect performance. Our latest treasury delivers on that promise and commitment.”
