State Street Corp. (Boston) introduced eHorizon, the bank's enhanced global accounting system for asset managers and institutional investors. This integrated global accounting solution accommodates multiple accounting bases and provides greater flexibility in managing complex fund structures such as fund of funds, pooling, master-feeder and multi-managed arrangements, according to State Street.
EHorizon automates allocations based on customer-specified methodologies and calculates accurate net asset values (NAVs) in real time at each level of the fund structure. Flexible fund cycles can also be accommodated, allowing customers to customize the methodology for reporting and valuing global portfolios.
"Asset owners and managers are launching more complex fund structures, need to bring products to market faster and require more global controls around operational risk," said Pat Centanni, EVP and head of global product management, State Street Investor Services, in a statement. "The infrastructure required to manage the accounting, reporting and valuation of these global fund structures has become significantly more complex and multi-faceted. State Street's eHorizon system [provides] a seamless, automated and comprehensive accounting process on a single global platform."