Hedge fund administrator Sauer Capital has introduced a pair of new services for clients, including improved functionality for side-pockets.
Clients employing Sauer's proprietary fund accounting platform will now have access to improved accounting and reporting features for both side pockets and special purpose vehicles, making it easier for hedge fund managers to segregate illiquid investments.
Among the features offered are automatic movement of the proceeds of realized events from side pockets to the main portfolio.
Sauer has also adopted a new valuation system for non-European equities. The recently-launched Fair Value Pricing is the most automated system for valuing such stocks.
"Fair Value Pricing is an important tool for institutions such as mutual funds because it enables them to determine the value of the securities in their portfolios if a significant event occurs after the close of the markets that trade those securities," Willem Oris of Sauer's global markets division said. "This enables us to calculate a more accurate net asset value or unitized value."