Fund Accounting / ABOR

Two books, one set of events. Fund accounting for asset servicers and asset managers. Your accounting book and your investment book are not reconciled to each other, because neither is a copy of the other. Both are derived from the same events, with different valuation and timing rules applied on top.

The Industry Challenge

Fund accounting is under pressure from every direction: rising volumes, private markets pulling in instruments the ledger was never designed for, tightening regulatory requirements and sustained fee compression. Covering a new asset class or fund type has often meant adding another system, particularly when extending into private markets, and each one arrives with its own reconciliation.

How FINBOURNE helps

Every basis from one dataset. Define a NAV type for each basis you report on, each with its own valuation and accounting treatment, and produce all of them from the same source transactions. Official NAV, financial reporting and tax run from one dataset rather than parallel ledgers kept in step by reconciliation.

Unified coverage across public and private markets

End-to-end support for all investment instruments, from listed equities and fixed income to private credit, private equity, and real assets, delivered through a single, integrated platform.

Movements engine: every NAV change, explained

Decompose a NAV into the movements that produced it: trades, corporate actions, revaluations, fees, FX. When an investor or an auditor asks what drove the change, the answer is the arithmetic rather than a reconstruction.

The NAV as published, and the NAV as it should have been

A price is restated three weeks after a NAV was struck. You need four things: the NAV as published, the NAV as it would have been struck with the corrected price, the difference, and both defensible to an auditor and an investor. FINBOURNE produces all four from one system.

Multi-basis accounting

Configurable NAV types (official NAV, management accounts, IFRS, local GAAP, tax, performance fee) let one set of source transactions produce multiple reporting datasets, each with its own accounting and valuation rules. No second load, no second ledger, nothing to reconcile between them.

Features

01

Accounting

Double-entry journal lines generated from the underlying events, against a chart of accounts that covers every fund type in one place. Report profit and loss to share class level. Every journal traces back to the event that produced it.

02

NAV production

Automated NAV generation with customisable exception dashboards, performance contribution, and AI-powered NAV control.

03

Fund entity management

Create and manage complex fund structures, share classes, series, partnerships, and fund-of-fund setups.

04

Valuation

Manage asset valuations using hierarchical pricing sources, fair value adjustments, price scrubbing and alternatives, with swing and dual pricing methodologies you can define or modify to match how your funds price.

05

Reconciliation

Streamline and automate reconciliation between funds, custodians, and brokers. AI agents flag exceptions automatically.

06

Private markets capital accounts

Maintain commitments, capital calls and distributions, partner capital accounts, waterfall allocation and carried interest across closed-end structures.

AI

The fund accounting agent runs end-to-end NAV production workflows, monitors SLAs, and flags breaks. The NAV control agent compares valuations across dates and sources. The data quality agent validates inputs before they enter the accounting engine.

NAV control agent Fund accounting agent Data quality agent Control checks agent Fund of funds agent and more

Client stories

Asset servicers

Multi-jurisdiction fund administrator, consolidating fund accounting across 95 funds

A fund administrator servicing 95 funds across more than 30 countries, covering equities, fixed income, derivatives and private equity, wanted to move its fund accounting and transfer agency operations onto a single platform, consolidating multiple charts of accounts and eliminating the reconciliation between them. FINBOURNE is replacing the previous spreadsheet-based model with automated custodian data ingestion across six counterparties, removing rekeying and shortening daily NAV production.

Asset owners

Life insurer, multi-basis fund accounting on a single dataset

A mutual life insurer needed fund accounting that supported both IFRS and Canadian tax on one dataset, with coverage extending to alternatives and private credit. FINBOURNE’s fund accounting runs on the same data as the firm’s IBOR, OMS, PMS and compliance, with no copies and no reconciliation between layers.

Asset managers

Alternatives manager, unified ABOR across three source systems

A USD 4bn alternatives manager ran accounting data across Bloomberg, SS&C and Calypso with no single authoritative source. FINBOURNE aggregated and normalised data from all three to produce a centralised Accounting Book of Record, giving consistent reconciled data across platforms and a single source for reporting.

Hedge funds

Global hedge fund, fund accounting with full contribution transparency

A large global hedge fund with multi-asset exposure and intricate fund hierarchies could not get granular ownership or expense data from its legacy provider. FINBOURNE ingested and reconciled conflicting administrator data into a unified source, enabling detailed fund accounting, look-through analysis, and performance contribution.

Private credit

Fund accounting for complex credit instruments

A private credit fund administrator needed fund accounting that could handle lifecycle event modelling for term loans, bank debt, revolving credit facilities, and CLOs, with journal entries and NAV calculation out of the box. FINBOURNE provides native private credit accounting with the movements engine tracking every position change.

Private equity

Automating fund accounting across real estate, credit, and PE

A global alternatives firm deployed FINBOURNE’s fund accounting to automate valuation workflows that had previously been slow and siloed across teams. The platform now produces unified accounting across all asset classes, with automated data pipelines reducing the manual effort involved in period-end processing.

Ready to see FINBOURNE in action?

Questions we hear from fund accounting teams

How do I produce NAVs on multiple bases from one set of source transactions, instead of maintaining parallel ledgers?

Configure the accounting treatment and valuation rules for each reporting basis you need (official NAV, IFRS, local GAAP, tax, performance fee). All are produced from one set of source transactions with no second load or second ledger.

When a price is restated after a NAV is struck, how do I show both the published NAV and the corrected NAV from the same system?

Bitemporal history preserves both the NAV as published (with the price known at the time) and the NAV as it would have been with the corrected price. Both are produced from the same data, with the difference calculated automatically.

What is the difference between a standalone fund accounting platform and fund accounting that shares its data with the rest of the investment stack?

A standalone platform does accounting well but in isolation: getting data out to compliance, reporting, or portfolio management requires extraction and reconciliation. FINBOURNE’s fund accounting shares its event store and data foundation with IBOR, PMS, compliance, and reporting natively.

How are firms handling fund accounting for private market instruments alongside their listed book without running separate systems?

Private credit, private equity, and real asset instruments are handled natively within the same fund accounting platform as listed holdings. Lifecycle event modelling for drawdowns, repayments, capital calls, and amendments runs on the same engine.

How do I decompose a NAV movement into the trades, corporate actions, fees, and revaluations that produced it, rather than just the closing number?

The movements engine breaks every NAV change into its constituent parts. When an investor or auditor asks what drove the movement, the answer is the arithmetic that produced it, not a reconstruction.