A Portfolio Management System (PMS) is a single unified platform that provides comprehensive information about your investment portfolios — and increasingly, about your entire business. From a portfolio perspective, a PMS should provide:
Core Portfolio Functions
- Capital Activity — When and how much money the portfolio received from investors, including subscription and redemption history
- Investments — All trades and investments made over time, with cost basis, present market value, P&L breakdown, and income — whether or not a position currently exists
- Trade vs. Settle Date Positions — Available cash and investment positions on both a cash and accrual basis to know exactly where cash is at any point
- Expenses — All fund expenses tracked against a chart of accounts providing granular detail by expense type
- Fees — Management fees and incentive fees charged over time, calculated at the investor and fund level
- NAV — Net asset value of the fund on a month-by-month basis, with balance sheet, statement of income, cash flows, and other financial statements
- Performance and Attribution — Monthly returns and attribution by investment, sector, asset type, and strategy
- Projections — Cash flow projections indicating money tied up to specific deals due to settlement delays
Investor & LP Management
In addition to information about your fund, a PMS should extend outside the fund to cover the General Partner (GP) and Limited Partners (LPs):
- Investors — A complete list of LPs and GPs and their ownership percentages
- Capital Registry — Capital account balances for each investor, including subscription amounts and commitments
- NAV Allocations — Individual allocation of fund NAV to each investor
- Fees — Management and incentive fees calculated for each investor based on their LPA agreement
- Diversification and Risk — Client diversification analysis and identification of key-risk relationships requiring closer attention
- Statements — Generation of investor statements for self-administered funds
- Contact Management — Prospect and sales pipeline management that converts seamlessly to investor onboarding without requiring separate systems or spreadsheets
Third-Party Integration & Data Warehouse
Modern funds deal with multiple third parties — prime brokers, fund administrators, auditors, lawyers, and other service providers. A robust PMS enables recording of vendor relationships and expenses, ingestion of third-party data feeds (trade confirmations from prime brokers, NAV and capital registry files from fund admins), and immediate reconciliation of in-house records against those feeds. This data warehouse function automates key back-office activities that otherwise require manual intervention.
Perfona is the only investment management system in the industry to provide a real-time general ledger alongside an optional position-only based portfolio management system — plus comprehensive investor waterfall calculations and a full CRM — all in one platform.