Background
In today’s dynamic investment management environment, there is an increasing need for fund accountants and investment managers to accurately administer their portfolios and harness the information captured for value-added reporting and analysis. In this fast-paced internet-enabled world, timelines have become more compressed, and errors are clearly becoming less and less tolerable.

As a consequence only the most robust, customizable and scaleable system will be acceptable to today’s investment management community. More importantly, it is increasingly critical that these systems are fully integrated with organization’s objectives and structure rather than being packaged add-ons.

Drawing on the unparalleled industry experience of its business and systems professionals, Miles Software Solutions Pvt. Ltd. has conducted significant research into challenges that are faced by the finance and portfolio management function of leading investment Management Corporation. We found that many packaged solutions are unable to fully integrate with organization’s product needs/ requirements, due to inadequate functionality/ tailoring capabilities.

  The MoneyWare Integra Advantage
Miles has developed a comprehensive system, MoneyWare Integra that offers the flexibility to account for a full spectrum of funds and securities holdings, with added power of rich tracking and reporting tools. When you purchase MoneyWare Integra, you purchase not just any software product but in fact a product backed by the unique class-leading integration capabilities of Miles information technology and specific industry consulting groups. Consequently, this system is fully customizable to the specific product/ functionality requirements of each organization. Additionally, our experienced consultants will work collaboratively with your business and information technology staff so that the implementation is completed in seamless fashion and this, in turn, results in more beneficial, long-term solution. Quite frankly, this is the MoneyWare Integra advantage, pure and simple.

  What is in MoneyWare Integra?
MoneyWare Integra has been designed with the following modules with it.

• Client Profiling

• Equity

• Debt

• Mutual Fund

• Derivatives

• Managed Accounts

• Financial Accounts

  Client Registration
Client Information like contact details, personal details, contact details for operations and decision maker. Once the client is registered, the account characteristics like discretionary / non-discretionary, asset class and POA Client can be mapped to primary and secondary relationship manager. It tracks the receipt date, value and quantity of securities given as initial corpus or additions made by the client subsequently

  Model Portfolio
Investment Model is a Fund Managers privilege wherein he can define the Portfolio of the Fund in terms of Percentage (from - to), The Portfolio can be maintained under the following heads

Industry wise: Within an industry, the portfolio can be maintained Instrument-wise (Shares, Bonds, etc.) and within each instrument-wise security-wise. Instrument-wise: The portfolio can be maintained instrument-wise and within each instrument-wise, security-wise. Security-wise: This information gives the user a warning in case he is trying to buy or sell a security in which the holdings have reached the level specified in the investment model. System maintains history of the revised model portfolio

  Order
System can generate equity orders automatically based on Model Portfolio and cash available for Discretionary clients. Fund Manager is required to approve the orders and can revise the quantity. Order for the non-discretionary clients can be entered manually. Dealer shall place the orders to the brokers for execution and await the deal information.

  Deal / Confirmations
There are three types of deals that can be entered into the system. They pertain to Fixed Income: These would include deals for all the instruments traded in the money markets like the Govt. Securities, CB's, CD's etc. and the types of deals that can be entered are outright purchase and sale deals. Stock Exchange deals: These would be for different types of instruments like Shares, Debentures, Warrants, and Derivatives etc. For Stock Exchange deals, Deals and Contract Note are entered. These are then reconciled. Reconciled deals are then ready for settlement. For Mutual Fund: Confirmations are entered for Purchase, Redemption and Switch

  Settlement
Once the deals are entered, approved and reconciled, they are ready for settlement. In the settlement option, user can enter / print deal slips, cheques, delivery instructions to be paid and also enter the details of the cheques or deliveries received from the parties.

  Corporate Action
User can either enter or upload various types of Corporate Action Announcements. These can be

• Dividends

• Bonus

• Splits

• Merger

• Demergers

• Rights

• Public Issues

  Expenses and Charges
The two broad types of expenses which system supports are Fixed Expenses and Transaction related expenses. The system supports definition and amortization of different expenses. Amortization could be Daily, Weekly, Monthly, Quarterly, Half Yearly and Yearly. The system also supports accrual of transaction charges that can be defined in the system. Once the actual charges are settled, the accrued expenses can be reversed and the actual expenses be accounted for.

  Accounting
As each fund could have its own Accounting policies, the method of passing accounting entries would have to be different for each Fund. This requirement is met by the system by providing rule definitions in the system. User can define Accounting rules in the system which are then interpreted and used by the by the system while passing the accounting entries.

  NAV Calculation
To provide flexibility, the NAV can be rerun any number of times. Thereby insuring no entries are missed out and providing tentative information to the Fund Manager. The system allows the User to recalculate NAV, to add incremental entries passed or to return a particular item of NAV or to make a total recalculation of NAV with deletion of stored values. However, the above process is not available after the NAV of the day is closed by running an EOD process and authorized.

  Reports
MoneyWare Integra generates a large number of reports and each report can be exported to various file formats such as MS Excel, MS Word, CSV, Acrobat PDF, HTML, Dbase, Lotus etc. Reports have been divided in various sections like:

  Listing

• Orders

• Orders V/s Execution

• Deal Listing

• Transaction Listing – Equity, Mutual Fund, Debt, Derivatives

• Demat Account Transaction List

• Portfolio Freeze Listing

• Balance Comparison Statement

• Universe of Investible Securities

  Client Reports
Client reports can be scheduled and system automatically can send out as a PDF file. Client Reports can be generated at an Individual level as well as Group/Household level.

• Welcome Letter

• Account Performance

• Asset Allocation

• Movement of Corpus

• Transaction Statement

• Bank Transaction Statement

• Corporate Benefits

• Stock Flow Statement

• Gain / Loss Statement

• Investment Ledger

  Income Reports

• Short Term & Long Term Gain / Loss as per Income Tax Act.

• Dividend – Equity & Mutual Fund, giving status of realization.

• Interest – Fixed Income Instruments, giving status of realization.

  Management Reports

• Asset Under Management, giving details of Equity, Fixed Income & Cash

• Change in Market Value (NAV comparison & performance between 2 period)

• Portfolio Performance

• Portfolio Performance Comparison with Various Benchmarks

• Portfolio Register

• Fund Status, current cash balance and expected cash flow

• Security Cross Reference, gives list of clients holding a security

• Trade Activity, no of trades in a period

• Turnover Statement

• Management Fee Statement for the period.

• Consolidated Exposure Statements by Sector, Playtype, Value

• Asset Reconciliation

• Account Close Report in a period

• Query Builder

  Portfolio Reports

• Largest Holding at Market

• Largest Unrealized Gains

• Largest Unrealized Losses

• Portfolio Summary

• Scrip Performance Vs Benchmark i.e. BSE Sensex, Nifty

  Financial Accounts

• Bank Book

• Bank Voucher

• Bank Reconciliation Statement

• Journal Voucher

• Broker Ledger

• Investment Ledger

• Expenses Ledger

• Trial Balance

  MoneyWare Integra Alerts
MoneyWare Integra allows you to setup alerts on various parameters and are send out to the desired e-mail ids.

• Stock / NAV Prices

• Volumes

• Cost

• Sectoral Exposure

• Corporate Benefits

• Freeze

• Account Activation

• Account Deactivation

• Exceptions like Negative cash, stock etc

  Technology Infrastructure
MoneyWare Integra was developed using Object Oriented Programming (OOP) techniques deployed on an open, scalable technology. The software is client server based using the following technology underpinnings.

The server configuration has a Microsoft Windows NT operating system for ease of use, scalability and open connectivity. The server database is initially configured with a Microsoft SQL Server relational database, which is fast, flexible, fully relational, and ODBC compliant. The client software that runs on your individual desktop is developed in Visual Basic (32-bit architecture) and will run under Microsoft XP/ 2000.

The new technology allows for greater productivity due to an intuitive windows based interface that allows true multi-tasking capabilities. The system has leveraged the technology to offer greater connectivity to outside pricing providers, and a variety of information providers.

  Secure application environment
Users in the MoneyWare Integra system are classified using Security Profiles. A security profile is similar to a job description with the software and allows users certain access privileges, based on their responsibilities.

Security constraints are activated at the company level, fund level, screen level and functions within each screen level. The user can define functional roles (job descriptions) within your organization and assign individuals and privileges to these roles.

  Salient Features

• Adaptable for Portfolios. Complete Accounting Solution for Fund Managers and Portfolio Managers. Adapt it to your environment for funds, funds of funds, class funds or client portfolio. Discretionary & Non-Discretionary client accounts can be maintained
   

• Seamlessly generates accounting entries. User defined accounting entries are automatically created and posted for every investment transaction.
   

• Stand-alone or Interface with Custody System The system can be deployed in interface with an existing Custody system or as a stand-alone system. If it interfaces with the Custody system, data pertaining to deals, corporate actions, settlements are obtained. Alternatively this data can be entered in the system itself.
   

• Flexible Reporting. Used many standard reports or you create your own with tools such as Crystal Reports.
   

• Long and short trading. Long and short trading in all types of investments for equities.
   

• Electronic download / upload from / to other system. Download / upload transactions, securities, prices and positions from/to traders and custodian systems to eliminate duplicated data entry and reconciliation work.
   

• Open – standards client/server architecture multi – tasking efficiency. The system employs the Microsoft SQL Server. Other ODBC compliant databases can be used upon request.
   

• Scalable. Stand - alone users or large workgroups under customized application security may use the system.

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