The Monakea fund database is uniquely suited to managing hedge fund investments. It is extensive, with over 400 fields, and sophisticated, with a data model capable of handling funds, classes, and series, networks of third parties, necessary documentation such as legal documents, emails, messages, etc.
Hedge fund processing information is handled as investment rules which specify liquidity constraints, lockups, notice periods, multiple early redemption penalties, fees, minimum investments, gates, multiple payments, and dozens of other details. Complex subscription and repurchase schedules can be designed to handle almost any case. These rules are used throughout the application to calculate dates and amounts when entering deals, reporting on portfolio liquidity or examining lockups on a deal-by-deal basis.
Monakea is able to manage the interaction between prices, estimated rates of returns, confirmed prices, and prices derived from other prices that change. Monakea handles the date of the price/ror as well as the date when the price/ror was calculated or received, making possible the correct calculation of performance on a realised basis, as well as the after-the-fact justification of the portfolio net asset value calculation.
Monakea provides a wealth of standard reports including:
- Positions Snapshot: which shows, among other things, performance and exposure by aggregating positions from deal level to portfolio level and even beyond to a group of portfolios or even the "house" level. For example, it is easy to show the exposure to a hedge fund at the portfolio, or house, level, or both. Also exposures to third parties like prime brokers and custodians can easily be visualised.
- Liquidity Profile: shows the rapidity with which the portfolio's positions can be turned into cash as if a decision were taken to sell all of the hedge fund positions at one given moment. Criteria can be added like a maximum fee that one is willing to pay to unlock soft locks.
- Treasury Forecast
- Regulatory Conformance
- many others
Columns can be selected or removed, making it easy to build a customised report. For example, to the hedge fund exposure report described earlier, one could add the forex exposure column, and see exposures for a given currency, at the portfolio or house level.
Besides the large number of standard reports, Monakea also offers the possibility to add custom made reports that addresses ones specific needs. For this "JasperReports" is being used which has endless possibilities to generate any kind of report.
All Monakea reports are time-independent; reports can be run for any given as-of date. In addition, reports fully use Monakea's system of auditing, making it possible to calculate, for example, performance with information now known, or with information known at the time. Auditing also allows Monakea to accurately report past information, for example, taking account style drift or changes in a hedge-fund's assets under management.
Hierarchies are used to categorise assets in multiple ways. For example, a hedge fund can be categorised by management style, asset size or type, geographic range, or any way imaginable:
Geographic / Asia / Asia excluding Japan / Hong Kong
Style / Arbitrage / Event Driven / Merger
Calculations (including performances, long/short exposures, etc) are aggregated along the tree, so one can see the performance, for example, of the Asia compartment, or the Event Driven compartment. Monakea is delivered with all the major hierarchies and there is no limit to the number of trees and branches that can be added.
Monakea can easily use data from different types of sources (data providers, in-house solutions, excel, special file formats). These connections can then be integrated in schedules that will automatically trigger data imports from your data sources. They can also be triggered manually if needed.
On the other hand, Monakea also offers easily adaptable possibilities to export data to other systems (in-house solutions, excel applications) making it a solution that truly integrates into your company and your companies work flow.
In Monakea users can be created and, if needed, assigned to a group.
For every group and/or user the appropriate rights can be configured, making it possible to enable/disable any part of Monakea or enable/disable certain actions to certain groups of users or individuals.
Also Monakea keeps track of who changed what at what time to enable audits.
With Monakea, alerts can be put in place. Alerts can be connected to a wide range of possible events:
- Surpassing a defined ratio of a certain strategy in a specific portfolio
- Not having received a certain cash flow at its expected payment date
- Forex exposure ratio falling under a certain threshold
All these alerts can be connected to a specific group or individual, so that the proper persons will be alerted and can take action.