Hi I am new to this forum but I have been reading the postings for quite some time. I currently work in backoffice - wealth management and trying to move over to Mutual Fund Accounting. I know Ms-Excel is very important in doing fund accounting job. Could anyone please give me examples of how excel is used in Mutual fund accounting. Thank you prav123
Could you elaborate a bit? The question is rather wide… In my experience Excel & accounting do not work very well together (among other things because there is a need for generating a so-called ‘audit trail’).
What I was asking is is excel used to calculate NAV of different funds etc
You will use excel to calculate performance fee (hedge fund), management fee and just basic accruals. (Knowhow to write a few formulas, use vlookup eg) You can also use to reconcile cash and positions. I am falling asleep just talking about it…
In my experience Excel is generally not used for calculating a mutual fund’s NAV, instead you would rely on specific software a so-called portfolio management system. These systems have built-in valuation and accounting features, most often also for calculating fees. You can check ‘bobsguide’ or ‘dimus’ for more info (you’ll find these sites through Google).