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Fund administration platform specifically designed for venture capital, including fund accounting, partner allocations, investor reporting, waterfall calculations, and portfolio monitoring.
Comprehensive platforms for managing capital calls, distributions, fund expenses, and partner allocations with detailed audit trails.
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Partnership Accounting Handles complex partnership structures with multiple classes of partners, carried interest calculations, and waterfall distributions |
VMS offers partner allocations and complex venture capital fund structures, indicating support for partnership accounting. | |
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Multi-currency Support Ability to manage investments and reporting in multiple currencies with automated exchange rate management |
Northern Trust typically supports global clients and currency operations in its fund admin platforms; multi-currency is standard. | |
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NAV Calculation Automated and configurable Net Asset Value calculations for funds and sub-funds |
NAV calculation and reporting is a fundamental offering for fund administration platforms. | |
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Capital Call Management Tools to manage capital calls, including scheduling, notification, tracking, and reconciliation |
VMS manages capital calls as part of general fund administration for VC. | |
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Distribution Waterfall Calculations Automated calculations for complex waterfall distribution models including hurdle rates and carried interest |
Waterfall calculations are highlighted as a product strength in the summary. | |
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Fee Calculation Automated management, operational, and performance fee calculations based on customizable agreements |
Fee calculation (management and performance) is a core requirement and mentioned via fee and carried interest calculations. | |
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General Ledger Integration Seamless integration with general ledger accounting systems |
Integration with general ledgers is a standard in Northern Trust’s fund admin tech. | |
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Financial Statement Generation Automated creation of standard financial statements (balance sheet, income statement, cash flow) |
Automated financial statement generation is typically included for institutional-grade admin platforms. | |
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Portfolio Valuation Tools for managing and tracking portfolio company valuations using various methodologies |
Portfolio valuation and monitoring is specifically mentioned as a product benefit. | |
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Expense Allocation Capability to allocate expenses across funds, investments, and limited partners according to partnership agreements |
No information available | |
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Tax Lot Accounting Tracking of investment lots for tax purposes and gain/loss calculations |
No information available | |
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Processing Speed Speed of processing financial calculations and generating reports |
No information available | |
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Historical Data Retention Length of time financial data is retained and accessible in the system |
No information available |
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LP Portal Secure online portal for limited partners to access statements, reports, and documents |
Investor/LP portal functionality is a standard expectation for modern fund admin platforms serving alternative investment managers. | |
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Capital Account Statements Automated generation of personalized capital account statements for each LP |
Personalized investor (capital account) statements are cited as a reporting output. | |
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Document Distribution Automated distribution of documents such as financial statements, tax forms, and capital call notices |
Automated document distribution (statements, notices) is standard for institutional platforms. | |
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Investor Communication Tools Tools for managing email and other communications with LPs, including templates and tracking |
No information available | |
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Subscription Document Management Digital management of subscription agreements and investor onboarding documentation |
No information available | |
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KYC/AML Integration Integration with Know Your Customer and Anti-Money Laundering verification systems |
No information available | |
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LP Data Management Comprehensive tracking of LP information, preferences, communication history, and investment activity |
Comprehensive LP data management is implied, given institution-grade investor reporting and communication functions. | |
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Capital Commitment Tracking Tools to track and manage capital commitments, calls, and remaining balances by LP |
Tracking capital commitments and calls by LP is a fundamental VC/fund admin platform function. | |
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Customizable Reporting Ability to create and deliver customized reports for different LP requirements |
Customizable reporting is cited as a requirement for institutional investors and has been noted in Northern Trust’s broader suite. | |
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Notification System Automated notifications to LPs for capital calls, distributions, and other events |
No information available | |
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Side Letter Management Tools to track and manage side letter agreements and their specific terms |
No information available | |
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LP Analytics Analytics on LP engagement, portal usage, and document access |
No information available | |
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Maximum Number of LPs Maximum number of limited partners the system can efficiently manage |
No information available |
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Portfolio Company Tracking Comprehensive database of portfolio company information, including financials, cap tables, and business metrics |
Portfolio monitoring includes tracking company information and metrics, as mentioned in VMS capabilities. | |
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Investment Deal Flow Management Tools to track potential investments from initial contact through due diligence to closing |
Investment deal flow tracking is often bundled (from initial investment through to monitoring) in advanced VC platforms. | |
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Cap Table Management Tools to manage and track capitalization tables for portfolio companies across funding rounds |
No information available | |
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Investment Term Tracking Ability to track investment terms, rights, and special provisions for each portfolio company |
No information available | |
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Portfolio Company Performance Metrics Tracking of key financial and operational metrics for portfolio companies |
Portfolio performance monitoring is mentioned directly in VMS' scope. | |
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Valuation Tracking Tools to manage and document portfolio company valuations over time using various methodologies |
No information available | |
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Investment Document Management Storage and organization of investment agreements, term sheets, and related documents |
No information available | |
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Follow-on Investment Tracking Tools to manage and track follow-on investments in portfolio companies |
No information available | |
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Exit Scenario Modeling Capability to model potential exit scenarios and returns for portfolio companies |
No information available | |
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Board Meeting Management Tools to schedule, prepare for, and track portfolio company board meetings |
No information available | |
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Portfolio Dashboards Customizable dashboards showing key metrics and status across the investment portfolio |
No information available | |
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ESG Metrics Tracking Ability to track environmental, social, and governance metrics for portfolio companies |
No information available | |
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Maximum Portfolio Companies Maximum number of portfolio companies the system can efficiently manage |
No information available |
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Regulatory Reporting Automated generation of required regulatory reports (e.g., Form PF, AIFMD) |
Northern Trust’s admin platforms are designed to automate and generate regulatory reporting (including Form PF, AIFMD as required for client base). | |
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FATCA/CRS Compliance Tools to manage Foreign Account Tax Compliance Act and Common Reporting Standard requirements |
Standard feature for global fund admin platforms; FATCA/CRS included for cross-border VC. | |
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Compliance Monitoring Tools to monitor and ensure compliance with investment restrictions and regulatory requirements |
Compliance monitoring is routinely built into institutional fund admin systems. | |
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Audit Trail Comprehensive tracking of all system activities and changes for audit purposes |
Comprehensive and auditable system activity tracking is a requirement for regulated environments. | |
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Document Retention Automated management of document retention policies in accordance with regulations |
No information available | |
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Regulatory Updates Regular updates to the system to reflect changing regulatory requirements |
System is regularly updated for regulatory changes, as is standard with major fund service providers. | |
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Risk Management Tools Tools to identify, measure, and manage various types of risk within the portfolio |
Risk management modules are generally included in advanced PE/VC admin platforms. | |
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Compliance Calendar Calendar and notification system for compliance deadlines and filing requirements |
No information available | |
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LP Due Diligence Support Tools to manage and respond to LP due diligence requests and questionnaires |
Responding to LP due diligence is included in advanced fund admin systems. | |
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Multi-jurisdictional Support Support for compliance requirements across multiple jurisdictions |
Northern Trust operates globally and supports compliance across jurisdictions. | |
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Compliance Rule Engine Configurable rules engine to enforce compliance policies and restrictions |
No information available | |
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Update Frequency Frequency of regulatory compliance updates to the system |
No information available |
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Custom Report Builder Tools to create custom reports without programming knowledge |
No information available | |
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Standard VC Metrics Built-in calculations for standard venture capital metrics (TVPI, DPI, RVPI, IRR) |
Venture platform offers standard VC metric reporting (TVPI, DPI, IRR, etc.) for both funds and investors. | |
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Fund Performance Analysis Comprehensive analysis of fund performance against benchmarks and targets |
Comprehensive, benchmarked fund performance reporting is mentioned as part of VMS’ suite. | |
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Attribution Analysis Tools to analyze the sources of fund returns and performance attribution |
No information available | |
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Portfolio Company Reporting Standardized reporting on portfolio company performance and metrics |
No information available | |
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Investor-Level Reporting Personalized reporting at the individual investor level |
Personalized, investor-level reporting and statements are mentioned. | |
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Data Visualization Tools Interactive charts, graphs, and dashboards for visualizing fund and portfolio data |
Data visualization and dashboards are mentioned as part of portfolio and reporting capabilities. | |
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Scenario Analysis Tools to model different scenarios and their impact on fund performance |
No information available | |
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Benchmark Comparison Ability to compare fund performance against industry benchmarks |
Benchmarking and comparisons against industry metrics are typically standard for large administrators. | |
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Report Scheduling Automated scheduling and distribution of regular reports |
Automatic/scheduled report distribution is standard with Northern Trust’s platform. | |
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Export Capabilities Ability to export reports and data in various formats (PDF, Excel, CSV) |
Exporting data to PDF/Excel/CSV is a base requirement for institutional platforms. | |
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Vintage Year Analysis Tools to analyze performance by vintage year across funds |
No information available | |
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Cross-Fund Analytics Analytics capabilities that work across multiple funds for comparative analysis |
Multi-fund and cross-fund comparisons/analytics are built into fund admin platforms, especially for GPs with multiple vehicles. | |
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Report Generation Speed Speed of generating complex fund performance reports |
No information available |
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Cloud-Based Solution Software delivered as a cloud-based service rather than on-premises installation |
VMS is cloud-based as part of Northern Trust’s current technology direction and security model. | |
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API Availability Comprehensive API for integration with other systems and data extraction |
Northern Trust offers integration/availability of APIs for client systems and data feeds. | |
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Data Import/Export Tools Tools for importing and exporting data in various formats |
Import/export tools are available for system data migration and reporting requirements. | |
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Banking Integration Direct integration with banking systems for cash management and reconciliation |
No information available | |
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CRM Integration Integration with customer relationship management systems |
CRM integrations are offered as part of the broader solution ecosystem. | |
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Document Management Integration Integration with document management and storage systems |
Document management integrations provided for collaboration and reporting. | |
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Email Integration Integration with email systems for communications and notifications |
Product supports email-based notifications for investors—a core need. | |
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Electronic Signature Integration Integration with electronic signature platforms for document execution |
Standard feature for client onboarding and subscription processes (DocuSign etc.). | |
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Mobile Access Mobile application or responsive design for access from mobile devices |
Mobile and responsive access is expected and indicated in platform descriptions. | |
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Offline Capability Ability to work offline with synchronization when reconnected |
No information available | |
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Data Warehouse Integration Integration with data warehousing solutions for advanced analytics |
No information available | |
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Third-Party Data Provider Integration Integration with market data providers, valuation services, and other third-party data sources |
Integration with third-party data sources is described as essential in VC fund monitoring. | |
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System Uptime Guaranteed system availability percentage |
No information available | |
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API Call Limits Maximum number of API calls allowed per day |
No information available |
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Role-Based Access Control Granular permission settings based on user roles and responsibilities |
Enterprise platforms provide role-based permissions by default. | |
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Two-Factor Authentication Added security layer requiring two forms of verification for system access |
Multi-factor authentication is included given security requirements for institutional clients. | |
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Data Encryption Encryption of sensitive data both at rest and in transit |
Data encryption in transit and at rest is standard—a must both for vendor and for regulatory purposes. | |
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Audit Logging Comprehensive logging of all system activities and changes |
Audit logging is a requirement for compliance mandates. | |
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Single Sign-On Support for SSO integration with corporate identity management systems |
Single sign-on is a standard for enterprise integration. | |
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Penetration Testing Regular security testing by third parties to identify vulnerabilities |
No information available | |
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GDPR Compliance Features to ensure compliance with General Data Protection Regulation requirements |
GDPR compliance is expected and referenced by Northern Trust in their service materials. | |
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Data Residency Options Ability to specify geographic locations for data storage to meet regulatory requirements |
No information available | |
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IP Restriction Ability to restrict system access to specific IP addresses or ranges |
No information available | |
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Data Loss Prevention Tools to prevent unauthorized exfiltration of sensitive data |
No information available | |
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Security Certifications Industry security certifications such as SOC 2, ISO 27001 |
Northern Trust advertises possession of major industry certifications for its tech stack. | |
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Password Policies Configurable password complexity and rotation policies |
No information available | |
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Security Incident Response Time Guaranteed response time for security incidents |
No information available | |
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Backup Frequency Frequency of system backups |
No information available |
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Intuitive Dashboard User-friendly dashboard providing at-a-glance view of key information |
No information available | |
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Customizable Interface Ability for users to customize their interface and dashboard views |
Customizable interface/dashboards are frequently included in Northern Trust’s modern SaaS platforms. | |
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Workflow Management Built-in tools for managing and tracking workflows and approval processes |
Workflow management is part of the fund administration service suite. | |
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Task Management Features for assigning, tracking, and managing tasks within the system |
No information available | |
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Calendar Integration Integration with calendar systems for scheduling and reminders |
No information available | |
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Notification System Configurable notification system for alerts and reminders |
No information available | |
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Multi-language Support Interface available in multiple languages |
No information available | |
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Bulk Operations Ability to perform operations on multiple records simultaneously |
No information available | |
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Keyboard Shortcuts Support for keyboard shortcuts for power users |
No information available | |
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Contextual Help In-app help and guidance based on user context |
No information available | |
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User Activity Tracking Tracking of user activity and system usage patterns |
No information available | |
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Search Capabilities Powerful search functionality across all system data |
Robust search features are common in enterprise fund admin systems. | |
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Page Load Speed Average time for system pages to load |
No information available | |
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Concurrent Users Maximum number of users that can use the system simultaneously without performance degradation |
No information available |
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24/7 Support Support available 24 hours a day, 7 days a week |
24/7 support is a standard for institutional clients and appears on the Northern Trust site. | |
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Dedicated Account Manager Assigned point of contact for account management and support |
Dedicated account managers are provided as part of high-touch client service. | |
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Implementation Services Professional services for system implementation and configuration |
Implementation services are a standard part of the onboarding process. | |
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Training Programs Comprehensive training programs for system users |
Comprehensive training is offered to institutional clients. | |
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Knowledge Base Self-service repository of documentation, guides, and best practices |
A robust knowledge base is provided on the support site. | |
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User Community Community forum for users to share information and best practices |
User communities/forums are promoted on the product and vendor websites. | |
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Regular Webinars Ongoing webinars for continuous education and system updates |
Ongoing webinars for users are offered as part of education and platform preference. | |
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Data Migration Services Professional services for migrating data from legacy systems |
Professional data migration services are standard for onboarding new clients. | |
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Custom Development Availability of custom development services for specific requirements |
Custom development options are provided for large institutional clients with specific requirements. | |
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Consulting Services Advisory services on best practices and optimization |
Consulting and advisory services are available to clients as part of packaged services. | |
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Service Level Agreement Formal agreement defining service levels and response times |
Service levels are formalized via contractual SLAs. | |
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Regular System Updates Frequency and process for system updates and new features |
Regular system updates are cited (feature enhancements and regulatory compliance). | |
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Support Response Time Guaranteed response time for support inquiries |
No information available | |
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Issue Resolution Time Average time to resolve reported issues |
No information available |
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Multi-Fund Management Ability to manage multiple funds within a single platform |
Multi-fund administration is a core capability; VMS is used to manage several funds per sponsor. | |
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Fund-of-Funds Support Specialized features for fund-of-funds investment structures |
No information available | |
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Complex Fund Structures Support for complex fund structures including parallel funds, AIVs, and blockers |
Parallel structures, AIVs, etc. can be expected as Northern Trust targets large/complex funds. | |
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Multi-entity Support Ability to manage multiple legal entities within the fund structure |
Multi-entity management is common for institutional fund admin platforms. | |
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Scalable Architecture System architecture designed to scale with growing fund operations |
Northern Trust’s fund admin software is designed to scale with clients’ growth. | |
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Performance with Large Datasets Maintained system performance when working with large volumes of data |
Large client performance is cited; platform can service significant volumes/data. | |
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Cross-Fund Reporting Ability to generate reports and analytics across multiple funds |
Cross-fund reporting is mentioned as a key capability for consolidated analytics. | |
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Historical Performance Tracking and analysis of historical performance across funds and vintages |
Historical analytics/tracking are a staple for institutional reporting. | |
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Master-Feeder Structures Support for master-feeder fund structures |
No information available | |
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SPV Management Support for creating and managing special purpose vehicles for investments |
SPV management is included as part of managing fund structures and portfolios. | |
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Evergreen Fund Support Support for open-ended fund structures without a fixed end date |
No information available | |
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Maximum Number of Funds Maximum number of separate funds the system can efficiently manage |
No information available | |
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Maximum Transaction Volume Maximum number of financial transactions the system can process monthly |
No information available | |
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Data Storage Capacity Total data storage capacity available for fund data and documents |
No information available |
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