Accuracy and automation in NAV calculation is critical to fund services businesses. This has been brought into sharp focus by the Retail Distribution Review in the UK, which has prompted additional share classes and thus added to the challenge of processing collective funds. Linedata has leveraged existing expertise and solutions to produce Linedata I-CIPS, which can handle extremely high volumes of complex share classes, at a time when legacy systems are struggling to cope. Linedata I-CIPS is highly configurable, works with any incumbent fund accounting or portfolio management system and comes with pre-configured NAV and pricing templates and validation rule libraries. It is available as a hosted solution.

Existing clients are eagerly awaiting this next iteration of the pricing engine. Ross McCreath, a systems manager at Baillie Gifford, comments: "Our previous valuation processing was inflexible and time consuming to update. Implementation of Linedata's Collective Investment Pricing System (CIPS) has provided us with freedom and flexibility to shape and adapt our fund pricing model to reflect our business needs. Our vision of Linedata I-CIPS is that it will reduce dependency on manual validation, offering tighter control, elimination of risk and a reduced administrative burden for our accountants."

"Linedata has seen a growing need for a comprehensive, flexible NAV and unit price calculation and validation engine to handle the complexity of today's collective funds," explains Mike de Verteuil, Linedata's Director of International Business Development. "Linedata I-CIPS offers an automated process which comprises complete user definition of the NAV and pricing calculations and rules-based verification with full auditability. The automation and scalability of Linedata I-CIPS means that the production of fund prices is efficient and thorough, but not resource-intensive."