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FactSet Fund Accounting from FactSet
Provides comprehensive fund accounting and investment analytics capabilities, allowing asset managers to monitor investment performance and streamline reporting processes.
Product analysis by function
Fund Accounting Systems for Fund Operations
Software for calculating net asset values (NAVs), processing corporate actions, managing income distributions, and maintaining financial records for investment funds. These systems ensure accurate valuation of fund assets and liabilities.
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Core Fund Accounting Functionality
(11 Yes /11 Known /14 Possible features)
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Net Asset Value (NAV) Calculation Automated computation of NAV for funds, incorporating all relevant assets and liabilities. |
FactSet Fund Accounting provides NAV calculation as a core capability according to product documentation and marketing materials. | |
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Multi-currency Accounting Ability to process transactions and holdings in multiple currencies. |
FactSet's materials mention robust multi-currency support for processing transactions and holdings. | |
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Double-Entry Bookkeeping Support for double-entry accounting principles to ensure accurate record-keeping. |
Double-entry bookkeeping is standard for professional fund accounting systems, and is explicitly referenced by FactSet in solution brochures. | |
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Cash and Position Reconciliation Automated daily matching of cash balances and securities positions against custodians/brokers. |
FactSet indicates support for daily automated cash and position reconciliation with custodians and brokers. | |
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Expense Accruals Automated recognition and accrual tracking of fund expenses and fees. |
Expense accrual management is specified as an automated capability in core FactSet accounting workflows. | |
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Income Recognition Recognition and allocation of dividends, interest, and other income streams. |
Income recognition, including dividends and interest, is a highlighted feature in both product sheets and case studies. | |
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Custom Chart of Accounts Flexible setup and management of account structures specific to fund requirements. |
FactSet allows flexible and customizable account structures, supporting user-defined charts of accounts. | |
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Accounting Period Management Handling and control over multiple open/close accounting periods. |
The platform provides multi-period and multi-fund accounting period management. | |
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Portfolio Valuation Frequency The frequency with which the system can value portfolios (e.g., daily, weekly, monthly). |
No information available | |
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Scalability Maximum number of funds or portfolios the system can handle concurrently. |
No information available | |
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Real-Time Processing Ability to process and update accounting entries in real time versus end-of-day batches. |
Real-time accounting entries and updates are supported according to FactSet system architecture features. | |
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Sub-ledger Support Capability to maintain detailed sub-ledgers for specific asset types or activities. |
Sub-ledger support for assets and liabilities is standard and referenced. | |
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Audit Trail Comprehensive tracking of all changes, edits, and transactions for audit purposes. |
Comprehensive audit trails are supported and highlighted for user and transaction tracking. | |
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Fund Structures Supported Number of fund structures the system can accommodate (e.g., open-ended, closed-ended, umbrella, segregated mandate). |
No information available |
Corporate Actions Processing
(11 Yes /11 Known /13 Possible features)
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Automated Event Capture Integration or feed for identifying and importing corporate action events. |
FactSet integrates corporate action feeds, automating the process of identifying and importing events. | |
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Voluntary/ Mandatory Action Handling Ability to process both voluntary and mandatory events (e.g., tender offers, stock splits). |
Processing both voluntary and mandatory corporate actions is a standard feature in FactSet’s offering. | |
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Entitlement Calculation Accurate calculation of holdings impact and entitlements for all corporate actions. |
Entitlement and impact calculations for corporate actions are automated in system workflows. | |
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Event Notification Automated alerts and workflows for pending and processed events. |
Automated alerts and workflows for corporate actions events are available. | |
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Multiple Event Processing Speed The system’s capacity to process multiple concurrent corporate actions. |
No information available | |
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Historical Corporate Actions Handling Ability to recognize and correct for past or missed corporate events. |
FactSet materials discuss ability to correct for historical corporate actions. | |
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Market Data Integration Capability to import corporate action data from market data vendors. |
Market data vendor integration, including corporate actions, is a core FactSet capability. | |
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Undo/Redo Processing Functionality to reverse or correct processed corporate action events as needed. |
No information available | |
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Multi-class Share Support Handle actions across different share classes efficiently. |
Multi-class share and multi-tranche support is described in FactSet’s fund structures documentation. | |
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SWIFT Corporate Actions Messaging Support for receiving and sending corporate actions via SWIFT formats. |
SWIFT standards, including corporate actions messaging, are noted as supported integrations for FactSet. | |
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Audit Logging of Corporate Actions Audit trail specifically for all corporate action processes. |
Audit logging specifically for corporate actions is available in the FactSet compliance features. | |
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Manual Input Options Facility for users to manually input or override corporate action details. |
Manual overrides and exception input for corporate actions are discussed within FactSet feature lists. | |
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Tax Impact Calculation Automated calculation and booking of tax implications linked to corporate actions. |
Automated calculation and booking of tax impact for corporate actions is a listed automation feature. |
Income Distribution and Allocation
(11 Yes /11 Known /12 Possible features)
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Automated Distribution Schedule Scheduling of recurring or one-off income distributions, including frequency and amount. |
Automated scheduling of distributions is supported; the product features recurring and one-off distribution scheduling. | |
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Income Allocation Methods Support for various allocation methods (pro-rata, FIFO, LIFO, custom rules). |
FactSet supports various income allocation methods, including custom rules. | |
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Gross/Net Distribution Processing Ability to compute both gross and net amounts for distribution to investors. |
Supports calculation and reporting of both gross and net distributed income. | |
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Dividend Reinvestment Support Automatic reinvestment of income distributions into fund units. |
Provides automatic dividend/income reinvestment options. | |
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Multi-Tier Shareholder Structures Support for allocating and processing income across different shareholder classes, tranches, or series. |
Multi-tier/shareholder structure support is addressed in product fund structure guidance. | |
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Tax Withholding Calculations Automated withholding and reporting of taxes on distributions. |
Tax withholding calculations are automated for distributions. | |
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Payment Channel Options Ability to distribute via multiple channels (ACH, cheque, SWIFT, etc.). |
Multiple payment channels for distributions (ACH, SWIFT) are listed as supported. | |
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Distribution Frequency Options Number of different frequency settings supported (e.g., daily, weekly, monthly, quarterly, annual). |
No information available | |
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Dynamic Allocation Adjustment Ability to adjust allocations based on shareholder changes or corrections post-calculation. |
Dynamic allocation adjustment functionality is highlighted in documentation. | |
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Reporting on Distributions Automated generation of reports detailing distribution calculations and payments. |
Automated generation of distribution reports is part of the standard reporting suite. | |
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Ex-Date/Record-Date Processing Automated processing of distributions based on relevant ex-dates and record-dates. |
Supports ex-date and record-date driven processing for distributions. | |
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Custom Distribution Rules Support for user-defined or fund-specific income distribution logic. |
User-defined/custom distribution rules are supported for income allocation. |
Financial Reporting
(7 Yes /7 Known /11 Possible features)
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Standard Financial Statements Automated production of balance sheets, income statements, and cash flow statements. |
Standard balance sheet, income statement, and cash flow are generated automatically. | |
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Custom Report Builder Users can define, build, and save customized financial and regulatory reports. |
FactSet has a report builder for custom and regulatory reports. | |
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Automated Regulatory Reporting Out-of-the-box support for regulatory templates (e.g., SEC, UCITS, AIFMD, IFRS). |
Supports out-of-the-box templates for a range of regulatory regimes. | |
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Multi-period Comparative Reporting Produce reports with side-by-side comparisons over multiple reporting periods. |
Multi-period side-by-side reporting features are available. | |
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Export Formats Number of report output formats supported (PDF, Excel, XML, XBRL, etc.). |
No information available | |
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Scheduled Report Distribution Automated emailing or uploading of reports to stakeholders or regulatory portals. |
Automated and scheduled distribution of reports through email and portals is supported. | |
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Drill-down Reporting Interactive reporting with the ability to drill-down to transaction-level data. |
No information available | |
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Audit Confirmation Letters Support Automatic generation and distribution of audit confirmation letters. |
No information available | |
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Customizable Disclosure Notes Ability to add custom notes/disclosures to financial statements. |
No information available | |
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Reconciliation Reports Automated production of cash/position reconciliation reports for audit and compliance. |
Reconciliation reporting is explicitly advertised as a compliance and control feature. | |
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User Access Controls over Reports Granular control over who can view, edit, or distribute reports. |
Granular user access controls over reporting are present, consistent with enterprise solutions. |
Data Integration and Connectivity
(9 Yes /9 Known /12 Possible features)
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API Availability Availability of REST, SOAP or other APIs for integration with external systems. |
REST and SOAP APIs for integration are highlighted on FactSet integration documentation. | |
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Batch File Import/Export Support for bulk upload or download of data in file formats (CSV, XML, JSON, etc.). |
Supports batch file imports and exports, as stated in product technical documentation. | |
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Custodian Data Feeds Number of custodians with out-of-the-box data feed integration options. |
No information available | |
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Market Price Feed Integration Direct integration to market price and security master feeds (e.g., Bloomberg, Reuters). |
Integrates with Bloomberg, Reuters, and other market feed providers directly. | |
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Third-party System Compatibility Supports integration with common risk, trade order management, and compliance systems. |
Compatibility with major third-party risk and OMS platforms is a selling point. | |
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Real-time Data Synchronization Capability to synchronize or update data in real time across platforms. |
FactSet emphasizes real-time synchronization and consolidated data views across systems. | |
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SWIFT Message Support Support for sending/receiving financial messages in SWIFT format. |
SWIFT messaging support is part of FactSet's integration capabilities for fund operations. | |
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Data Validation and Cleansing Automated checking, mapping, and correction of incoming data feeds. |
Automated data validation and cleansing processes for integration feeds are included. | |
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Web Service Endpoints Number of pre-configured web service endpoints available. |
No information available | |
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Error Handling and Alerts Automated identification and notification of data integration issues. |
Automated error and alert management is referenced in documentation. | |
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Flexible Data Mapping User-configurable data mapping between external and internal systems. |
Configurable data mapping tools for integration with external/internal systems are available. | |
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Multi-tenancy Support System can segregate data and workflows for multiple clients within the same platform. |
No information available |
User Experience and Workflow Automation
(12 Yes /12 Known /12 Possible features)
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Customizable Dashboards Personalized dashboards showing relevant KPIs, alerts, and task lists. |
Customizable dashboards for KPIs and workflows are highly promoted in FactSet's user experience. | |
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Workflow Engine Integrated workflow tools to define, trigger, and automate business processes. |
Workflow automation and configuration tools are included. | |
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User Roles and Permissions Granular control over user access, editing, and approval rights. |
User roles and granular permissions are available. | |
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Task Assignment and Escalation Automated delegation and reminders for pending or overdue tasks. |
Task assignment, alerts, and escalation are supported by workflow engine. | |
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Bulk Processing Support for bulk editing, approvals, or transaction uploads. |
Bulk processing for edits, approvals, and uploads is mentioned in technical specs. | |
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Mobile/Tablet Accessibility Access platform features through mobile devices and tablets. |
Web-based interface includes mobile and tablet accessibility. | |
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Language Localization Support for multiple languages for interface and reporting. |
Supports language localization for global clients. | |
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Training and Help Resources Integrated user guides, video tutorials, and context-sensitive help. |
Integrated user help, guides, and tutorial resources are available. | |
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Search and Filtering Advanced search tools and data filters for quick data access. |
Advanced search and filter functionalities are key points in user documentation. | |
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User Activity Logging Automatic recording of user actions for security and compliance. |
Detailed user activity logging for security and compliance is provided. | |
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Workflow Exception Handling Automated detection and management of workflow exceptions or breaks. |
FactSet provides exception handling in workflow management. | |
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Document Management Store and retrieve associated fund documentation within the platform. |
Document management for fund documentation is integrated into the platform. |
Compliance and Controls
(11 Yes /11 Known /11 Possible features)
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Rule-based Policy Enforcement Automated compliance checks based on custom or regulatory rules. |
Rule-based compliance and policy enforcement are automated. | |
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Approval Workflows Multi-level approval workflows for sensitive tasks and sign-offs. |
Multi-level approval workflows are built-in for controls. | |
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Exception Alerts Automated warning and escalation for compliance exceptions. |
Exception alerts in compliance processes are automated. | |
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Regulator Audit Log Comprehensive logging tailored for regulatory inspection needs. |
Regulator-tailored audit logging is supported and documented. | |
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Segregation of Duties Controls to ensure critical functions are performed by separate users. |
Segregation of duties controls are available for key workflows. | |
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Threshold Monitoring Pre-set limits for exposures, transactions, or NAV deviations triggering alerts. |
Threshold and exposure monitoring with alerting are mentioned in compliance modules. | |
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Automated Reporting to Regulators Direct submission features to regulatory agencies via portal/API. |
Automated regulatory reporting submission is part of FactSet’s regulatory integration suite. | |
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KYC/AML Checks Integration Integration to know-your-customer and anti-money laundering data providers. |
FactSet integrates with third-party KYC and AML providers. | |
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Historical Version Controls Ability to retrieve and report historical data by effective date. |
Supports historical version controls for data and reporting. | |
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Data Masking for Sensitive Fields Masked display of sensitive regulatory and client data. |
Supports data masking to secure sensitive or regulatory fields. | |
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Automatic Breach Reporting Instant reporting and alerting of compliance breaches. |
Immediate alerting/reporting of compliance breaches is described in compliance specification. |
Security and Data Protection
(7 Yes /7 Known /10 Possible features)
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Multi-factor Authentication Support for two-factor or multi-factor user authentication. |
Two-factor and multi-factor authentication supported for all user access. | |
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Data Encryption Encryption of data both in storage (at rest) and when transmitted. |
Data at-rest and in-transit encryption described in security technical specs. | |
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Role-based Access Control User access granted by assigned roles with least-privilege principles. |
Role-based access controls are present with least-privilege configurations. | |
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Regular Security Updates Frequency with which security patches and system updates are issued. |
No information available | |
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Penetration Testing Regularly scheduled third-party penetration/vulnerability testing. |
Regular third-party penetration and vulnerability testing is performed, as stated under security compliance. | |
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Audit Logging and Monitoring Comprehensive audit logs accessible for investigation. |
Comprehensive audit logging and monitoring features are present. | |
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Disaster Recovery/RTO System recovery time objective if disaster recovery must be invoked. |
No information available | |
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Data Backup Frequency Interval at which full or incremental data backups are performed. |
No information available | |
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Secure Data Destruction Assurance that deleted data is irreversibly destroyed. |
Irreversible data destruction is part of compliance and security documentation. | |
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GDPR/Data Privacy Compliance System compliance with major privacy laws (GDPR, CCPA, etc.). |
GDPR and other privacy standards compliance is clearly promoted. |
Performance, Scalability, and Availability
(3 Yes /3 Known /9 Possible features)
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Concurrent User Support Number of users supported simultaneously on the platform. |
No information available | |
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Transaction Processing Speed Number of accounting transactions processed per second. |
No information available | |
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Uptime Guarantee Service-level uptime commitment by the vendor. |
No information available | |
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Disaster Recovery RPO Recovery Point Objective indicating maximum data loss in case of disaster. |
No information available | |
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Horizontal Scalability Ability to add additional servers/resources for greater volume. |
Designed for horizontal scalability with the option to add compute resources as volumes increase. | |
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Peak Load Handling Maximum transaction load the system can handle without degradation. |
No information available | |
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Auto-scaling Cloud Deployment Built-in capability for automatic scaling in cloud environments. |
Auto-scaling cloud deployment is referenced for cloud-hosted options. | |
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High Availability Architecture Design elements ensuring continuous operation with fault tolerance. |
Features high availability/fault tolerance as part of production design. | |
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Failover Time Time taken for system failover in the event of component failure. |
No information available |
Pricing, Licensing, and Vendor Support
(8 Yes /8 Known /10 Possible features)
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License Models Supported Support for various license models (SaaS subscription, on-premise, etc.). |
Supports various license models: SaaS, on-premise, etc. | |
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Volume-based Pricing Tiers Availability of pricing tiers tied to fund size or number of funds. |
Volume-based pricing tiers are available for different client fund sizes. | |
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Custom Contract Flexibility Willingness to offer custom contracts and SLAs. |
Custom contracts and SLAs are referenced in RFP and client onboarding notes. | |
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Implementation Support Availability of vendor support during setup and onboarding. |
Implementation and onboarding support included with all contracts. | |
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24/7 Client Support Round-the-clock live support availability. |
FactSet offers 24/7 global client support. | |
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Average Issue Resolution Time Average time to resolve a typical support issue. |
No information available | |
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Knowledge Base/Community Portal Access to self-help resources and user communities. |
Online knowledge base and customer community portal are available. | |
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Regular Feature Releases Frequency of new feature or update releases. |
No information available | |
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Data Migration Services Support for migrating data from legacy systems. |
Offers migration services for legacy system data onboarding. | |
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Contract Term Flexibility Flexible contract durations and renewal terms. |
Contract durations and renewals are negotiable. |
Customization, Extensibility, and Upgradability
(9 Yes /9 Known /9 Possible features)
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User-defined Workflows Support for building custom workflows and automations without vendor involvement. |
User-defined workflows and automations are supported without vendor intervention. | |
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Plugin/Extension Framework Ability to add custom modules or extensions to core platform. |
Plugin and extension frameworks are available for modular customization. | |
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Custom Fields and Forms Users can add custom fields, forms, and data attributes. |
Custom fields and data forms can be added by users. | |
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Scripting/SDK Support Availability of scripting or SDK for advanced customizations. |
SDK and scripting capabilities for advanced customization are documented. | |
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Branding/White-labeling Option to customize the user interface and reports with firm branding. |
Branding and white-labeling for reports and interface is available. | |
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Upgrade Path Clarity Clear communication on how upgrades are managed and delivered. |
FactSet details upgrade procedures and communications for clients. | |
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Backward Compatibility Ensures new versions do not break existing integrations or customizations. |
Backward compatibility for upgrades is explicitly supported. | |
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Open API Documentation Comprehensive developer documentation for system APIs. |
Open API documentation is available for developer and client access. | |
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Sandbox/Test Environment Access to a separate environment for testing customizations and updates. |
A test/sandbox environment is provided for client testing. |
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