In addition to its specific fund-of-fund capabilities, Monakea offers the full set of features expected of an institutional portfolio management system. All of these features are currently in production and are heavily used.
Monakea handles cash flows separately from deals. Multiple cash flows can be generated from a given deal (for example, margin calls). Expected future cash flows are stored off-balance sheet as per accounting conventions and can be seen as a treasury forecast. Cash flows are currency independent.
Monakea handles incoming portfolio subscriptions and repurchases cash flows. Cash flows can be aggregated (once per period) or can be handled individually (multiple flows per day). In the latter category, portfolio flows can be linked to clients. Monakea stores the official net asset value and number of shares of the fund.
Monakea handles indexes, benchmarks and composite benchmarks. Composite benchmarks can be calculated as their components arrive, either by price or by performance. Portfolios can be associated to benchmarks and performance fees are calculated relative to the portfolio's benchmark.
Monakea handles all aspects of futures, including deposits (and changes in deposits), prices, calendars, profit/loss, and margins calls, which can be generated by contract and by portfolio.
Monakea handles forex spot, forward and swaps, in multiple currencies. Forward transactions are managed in the treasury forecast and are held off balance sheet as per accounting conventions. Calculations are available to indicate positions and hedging in the currencies used by the portfolio, and can be aggregated to the house level.
Management and performance fees can be calculated by portfolio according to portfolio settings. Fees are calculated daily and automatically using the portfolio net asset value, excluding provisions, and appear as a provision until they are realised. Performance fees can be calculated against the portfolio's benchmark.