I-Fund

I-Fund is a comprehensive index fund management system that allows index fund managers to define, manage and monitor multiple index portfolios. The I-Fund system is a standalone system, capable of integrating into the existing back-office systems of any Asset Management Company. 

The I-Fund system allows fund managers to track multiple indices, calculate tracking errors of multiple schemes, calculate net asset values of schemes and generate basket trades to adjust the portfolio in case of subscriptions, redemptions or rebalances Features.

The I-Fund system provides the following features:- 

• Multi-user, multi-fund system.
• Portfolio - Ability to maintain multiple Index Portfolios.
• Basket Trades - Ability to generate basket for individual schemes.

  • Generate baskets for Subscriptions, Redemptions or Rebalance.
  • Generate multiple user defined set of baskets for each trade.
  • Allocate trade amounts proportionally, according to weights in index.
  • Assign multiple baskets generated to brokers.
  • Calculate Impact costs for each basket.
  • Generate order files as per the format required by the broker/exchange.
  • Receive trade confirmation for the brokers/exchanges.
  • Upload broker executed baskets into respective schemes.
  • Rebalance the portfolio, with broker update.
  • Deal Sheet Generation.
• NAV uploads - Upload of asset/liability data file from back office and calculate NAV.
• Holding uploads - Upload holding information and update portfolio.
• Generate Tracking Error reports.
• Corporate Action tracking and adjustments in portfolio/baskets.
• Index Maintenance reporting and adjustments.
• Index value and weight-age tracking.
• Index Price tracking and updation.
• Basket Details report.
• Broker Executions reporting.

Architecture

The system has a simple client-server architecture with a browser-based front-end and a database in the back-end. It runs on Linux/Unix platform with an RDBMS such as MySQL or Oracle. 

Benefits

• I-Fund is a browser based system and can be operated by any user with the required access rights.
  
  
• I-Fund validates the data from the files coming from the Index Information Provider and ensures that there is no room for errors.
  
  
• Strict adherence to the rules of Index-provider, numerous simulations and rigorous testing has ensured correct tracking error figure.

Use in other applications

Given the functionality of I-Fund and its ability to handle multiple portfolios, related transactions, allocation of monies, NAV calculations, calculation of impact costs of trades and generating tracking error reports, it integrates well with back office systems seamlessly and can be a vital part of an enterprise fund management system at any asset management company.

Clients

IDBI Principal Asset Management Co. Ltd.
Templeton Asset Management Co. Ltd.
SBI Mutual Fund
Birla Sun Life Asset Management Company Ltd.
LIC Mutual Fund
Tata TD Waterhouse Asset Management Pvt. Ltd.