SunGard today announced the launch of InvesTier version 4.2. SunGard's InvesTier is an investor accounting and reporting software solution for alternative investment firms and their administrators.
InvesTier 4.2 adds equalization credit/contingent redemption - a broadly used equalization accounting methodology - to a comprehensive accounting solution that supports over 1,000 funds. The new version also supports all unitized funds, whether they utilize share series or equalization.
Previously, fund managers (and their administrators) managing a master-feeder fund frequently tracked the U.S. feeder in one investor accounting system while tracking the Caymans- or Dublin-domiciled master and offshore feeder in a separate system - thereby complicating any effort to flow allocations between the offshore master fund and its U.S. feeder.
With the ability to support both the equalization and the share series methods of managing performance fees for unitized funds, SunGard's InvesTier offers a truly global investor accounting solution. It supports complex fund structures and allocations among funds, their feeders, classes and series across multiple domiciles and is accessible by domestic and offshore accounting and investor relations staff in multiple international offices.
Additional enhancements in SunGard's InvesTier 4.2 include new capital transaction categories, which help provide more granular descriptions of investor capital transactions, and investor fee calculations in the local currency of the investor class or series.
Emanuel Mond, president of SunGard's alternative investments business, commented: "Our customers require functionality on a single platform to compete in a global marketplace and stay competitive. Today's fund structures span multiple legal entity types and domiciles. With the addition of equalization, SunGard's InvesTier now offers our customers a single, unified, global investor accounting solution to service their funds however they are organized."