Definition: An external service provider that handles back-office accounting for a fund. They calculate the official net asset value (NAV) and record all trades and cash movements. Firms perform may also perform shadow reconciliation against the fund administrator to double-check that the fund administrator’s numbers match the firm’s internal records.
Example: A firm sends its trade list to the fund administrator. At the end of the day, the firm compares its own internal record of cash and stocks against the report the fund administrator sent back to make sure no trades were missed or recorded at the wrong price.
Explore the IVP Reconciliation Solution
The IVP Reconciliation Solution serves as a powerful “shadow” platform to verify the work of fund administrators. Our integrated model automates the ingestion of administrator reports and identifies any gaps in trades, positions, or cash balances immediately. IVP’s team manages the communication of these breaks back to the fund administrator, ensuring that discrepancies are corrected before the final NAV is struck, providing an essential layer of independent verification.
