Thomson Reuters Rolls Out Fund Accounting Solution

New York - 14 October 2009

Thomson Reuters today announced the launch of its latest release of PORTIA, an enterprise-wide investment accounting system. Thomson Reuters PORTIA has been transformed to include robust fund accounting capabilities, providing clients 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 of Thomson Reuters PORTIA creates efficiencies by automating all aspects of the fund accounting process – the calculation of a true net asset value, the ability to unitize 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 optimize their middle to back office resources.”

The core functional improvements allow fund managers, investment mangers and fund administrators to provide their investors with financial statements, capital statements and performance reports all from one single system.

Nicolas Photiades, Chief Executive Officer, Blominvest Saudi Arabia (licensed by the CMA) said: “By participating in Thomson Reuters Early Adopter Program, we have seen first hand how the new Thomson Reuters v10.0 platform can now consolidate our data into one system and significantly improve our operational efficiencies.”

In addition to Blominvest Saudi Arabia several global clients worked with Thomson Reuters PORTIA through the design and testing process, including Metrobank located in the Philippines.

A global enterprise-wide accounting solution, Thomson Reuters PORTIA supports the increasingly complex needs of investment managers. PORTIA eliminates the need for multiple systems, reducing operational risk and overall costs. Thomson Reuters PORTIA v10.0 includes extensive enhancements to its functionality including:

• Net Asset Value (NAV) Manager - strikes NAVs at the total fund, share class, or sector levels based on the user defined periodicity set up for each fund (e.g., daily, weekly, monthly). NAV calculations are based on a client’s primary accounting basis and are inclusive of all accruals and allocations of expense, distribution, and income activity.

• Fund Accounting Ledger - a fully integrated, real-time accounting ledger module allows portfolios and funds to be tracked in one or more accounting basis --- including but not limited to GAAP, Tax and Statutory Accounting principles. Double entry ledger transactions are also created and stored for each activity enabling quick and accurate reporting.

• Standard Chart of Accounts - allows clients to easily map their PORTIA chart of accounts to those of their internal system.
• Reporting - PORTIA’s library of reports has been significantly enhanced to meet the needs of fund managers. Reporting on fund ledger activity is available through pre-configured balance sheets, profit & loss statements and cash flow statements.

Used by more than 300 investment managers in 45 countries managing assets worth more than US $15 Trillion, Thomson Reuters PORTIA is a highly scalable solution which boasts flexible deployment options.

Thomson Reuters PORTIA revolutionizes how clients approach their day-to-day operations by providing an open, flexible and high performing system that is instrumental to ensuring an ideal workflow and streamlined operation.

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