Fees

Fees independently recalculates the management and other fees charged to each share class and compares them to what the administrator reported, flagging any discrepancies. It supports many fee structures, including a percentage of NAV, fixed amounts, minimums and maximums, and tiered tranches. It answers: are the fees charged to this share class accurate and in line with expectations?

How it works

Instead of trusting the administrator's figures, it independently recomputes each fee day by day. It takes the reported accruals, NAV, FX rates, and share-class movements and uses calculators configured with each fee's parameters (rate, reset calendar, minimums and maximums, fixed amounts, tranches) to reproduce the expected fee, and it also compares fees against budget. It treats a fee as anomalous when the cumulative amount differs from the independent figure by more than a set share of NAV, or when a daily accrual is a statistical outlier versus recent history.

What you get

• A side-by-side comparison of daily and cumulative fees (administrator versus independent calculation).
• A fee breakdown by type and the fee impact on profit and loss.
• A budget check of actual accrued fees versus the expected fee budget, plus the total expense ratio.
• Event alerts when daily or cumulative fees deviate beyond set thresholds.

How to use it in Spark

The fee comparison and alerts arrive as data in your workspace. Track accrued versus expected fees on a canvas, and let a workflow or the Agent raise a task when a fee deviates.