Unit Holder Balance Error Identifiation

Unit Holder Balance Error Indentification & Rectification

A client with over $1 billion in funds under management, discovered they had an error in the pricing of their fund, which resulted in an error in unit holder balances over a number of years. This error compounded as transactions occurred at the wrong price and distributions were given based on incorrect holdings.

We created a sophisticated model outlining the correct unit holder balances on the basis of the error not occurring, and provided detailed recommendations for resolution.  We also created improved internal controls to guard against future error. A side benefit was that data processing was streamlined.