▞ System for Funds Management Company

Asset Management Information System (AMIS)

Effective and affordable solution for administration of the mutual funds in conformance with the directives of UCITS IV. The system was designed for a funds management company in order to automate the administrative processes and activities related to the issuance of shares of "unit" schemes, such as mutual funds, unit trusts or pension funds.

AMIS has been developed using Model Driven Architecture and Model Driven Design technologies being parts of the ALBIQ platform made by F4S. in this way the time and cost of development as wel as operating costs of the infromation system were significantly reduced for the future users

Business background

Management companies create mutual funds for investors who become shareholders of them when buying shares of the mutual fund. Money from the sale of shares goes to the mutual fund. This amount is invested by the management company, in accordance with the chosen strategy, in various instruments in the financial market in order to achieve return to investors. The return has the form of growth in share value, which is expressed by the proportion of net asset value of the mutual fund and the amount of shares in circulation, or dividends paid to the investor. In open funds the investor can sell his share at any time to the management company, which in return has to pay the share value to the investor. In closed funds there is no such obligation of the management company for a specified time. The management company is entitled to the management  fee or eventually a reward for recovery.

Functionality

AMIS provides all the functions necessary for the operation of the fund management company: 

  • Defining of internal funds, mutual funds, and settings of their parameters.
  • Registry of investors, their orders for purchase / sale of shares in funds, and recording of the purchases including the calculation of profitability and tax liability.
  • The process of issuing and redeeming shares on the instructions.
  • Evidence of investment instruments, constituting the portfolio of mutual funds, and transactions with these instruments.
  • Automatic actions triggered on a basis of planned events such as coupon payments and the face value of bonds.
  • Valuation of financial instruments in the portfolio of internal funds using market prices and internal calculations.
  • Valuation of the portfolio, including automatic monitoring and accounting of assets and liabilities of mutual funds.
  • Integrated internal accounting enables the recording of important accounting or management data.
  • Calculation of management fees.
  • Calculation of net asset and current unit value .
  • Calculation of the profit/loss from purchases/sales or revaluation of financial instruments in the portfolio by method FiFo.
  • Records of the audit logs.
  • Management of access rights at the application level, with the possible link to the corporate LDAP system.
  • Data exports and reports (Jasper Reports) customized to the requirements of users, business and accounting.

The following types of financial instruments are currently available:

  • units, shares, stocks;
  • bonds;
  • time deposits;
  • foreign currencies;
  • ready for use implementation of other instruments, such as options, swaps, forwards and so on.

Technology

System AMIS is based on multilayer architecture. It contains SQL database, a service layer on the base JEE and a web application with user interface "rich GUI". Our own MDA/MDD development platform ALBIQ was used.

The graphical user interface is intuitive with several customization options, such as selection and display order of columns in the various reports, a wide range of filters , statistical evaluation of data, creating graphical representations of graphs using the integrated library, and many other features.

Operation

The system can be operated in two models, either as a custom installation or providing software as a service. 

The second possibility is particularly convenient for new management companies. It does not require initial expenses on infrastructure, purchase of licenses or establishing your own IT team. Additional custom services are offered in both models in order to achieve high usability, availability and reliability of the system, such as trainings of administrators and ordinary users, helpdesk support, troubleshooting, bug fixing  at agreed times, changes and adding new features as required.