HSBC has launched a new group of digital applications to help asset owners and managers monitor the net asset value (NAV) of their funds.
The apps will provide dashboards that can track the status of NAV processing against agreed timelines for the publication of NAV.
In addition, the apps will provide transparency into key NAV quality controls and explain the reasons behind any specified control thresholds being exceeded.
The apps, developed in-house by the bank’s Evolve platform, can be accessed on PCs, laptops or mobile devices.
Sebastien Danloy, global head of asset owners and managers, securities services, HSBC, says there is a “strong demand” from clients for greater support with their NAV oversight process.
Regulators and investors are increasingly focused on ensuring that asset owners and managers are effectively monitoring the operations they outsource to service providers such as HSBC, Danloy explains.
He adds: “Our NAV Oversight suite of apps will help clients fulfil their oversight obligations in a more cost-efficient and robust manner.”
In July last year, HSBC launched an Amazon-style data service for securities services.
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