Automated processes to provide tax computation of Net Asset Value (NAV) computation for a large AIF company

The client is one of India's leading players in the AIF industry.

AIFs are required to report monthly NAV with the Securities and Exchange Board of India (SEBI). After introducing tax on long term capital gains, it became imperative for the funds to factor in the tax cost while computing the NAV.

Our client had 40+ funds, and hence computing tax working and NAV was a very difficult task given the stringent regulatory timelines.

• Real time recording of script wise transactions is carried out to avoid a last minute rush.
• An automated tool is used to process the bulk data received from the custodian bank at the month end. Checks and balances are also carried out through the automated tool with the corresponding data provided by the custodian banks.
• The use of automated processes has reduced the turnaround time extensively, which helped deliver the computations of multiple funds in a short period.

The automated solution has helped the client ensure that compliance deadlines are adhered to without compromising accuracy.

Our expertise and dedicated service has resulted in several new assignments from the client and several other funds of the said client group.