Thomson Reuters has released the latest version of Portia, an enterprise-wide investment accounting system. Portia now includes enhanced fund accounting capabilities, providing clients with a single solution for managing their investments, accounting in multiple bases, generating operational reports, as well as meeting regulatory requirements. The new functionality allows clients to support the management of securities and funds without the need for multiple applications.
For firms who manage funds, the latest version creates efficiencies by automating all aspects of the fund accounting process – the calculation of a true net asset value, the ability to unitise portfolios, improved closed accounting controls, enhanced income and expense accrual processes and capital stock transaction management with the ability to track subscriptions and redemptions more easily.
Christy Bremner, global managing director of Portia, Thomson Reuters, said: “Thomson Reuters designed the new version of Portia with the goal of providing investment managers with a single solution to simplify and automate work processes across the enterprise. Adding fund accounting capabilities allows firms to leverage Thomson Reuters Portia to simplify their operations and optimise their middle to back office resources.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.