At Commonwealth, our Fund Accounting services are designed to accurately and efficiently manage the accounting and reporting aspects of operating a mutual fund. We retain highly qualified personnel and use state-of-the-art accounting software to provide the pricing and reporting services essential to mutual funds and investment advisors including:
- Calculate daily Net Asset Values and ensure for accuracy
- NASDAQ reporting
- Calculate daily dividend rates, average maturities, and yields
- Record security and cash transactions
- Record corporate actions; such as dividends and stock splits
- Calculate any fund distributions required for tax purposes
- Process trade settlements
- Perform automated reconciliation with custodians
- Manage fund expenses through a budget process and ensure any expense limitation is enforced
- Facilitate and assist with annual audits and SEC Examinations
- Utilize technology that is scalable to industry and regulatory changes
- Provide a high-degree of reporting and financial statement customization
- Assist with Annual SOC-1 Audit
