MUFG Investor Services

Metals, Futures and Physical Commodities
Fund Administration

Metals, Futures and Physical Commodities


This client was using a unique technology platform to handle the specific requirements of physical metals trading. The very nature of the trading and portfolio management strategy means that each deal is transacted with many complications; freight, forward/backward looking price points, averaging, and multi-stage invoicing/pricing of batches are just some of the issues to be handled throughout the process. Unfortunately, these details cannot be particularly well-handled by the vast majority of general ledger systems on the market today.

Frustrated by the inability of their previous fund administrator to handle the portfolio or deliver contracted services, the client sought a customized solution that would fit their strategy and position the investment manager for future growth.


Over the course of a week-long discovery project, the Client Solutions Team mapped out a full scenario analysis program, examining how different deals could unfold and how each scenario would be reflected in the client’s internal system. Also, the data structure of the client’s technology was examined to gain a full understanding of the existing architecture.

MUFG, in order to ensure a seamless integration between the various technology infrastructure platforms, built a customized, separate application to sit between the client’s internal system and MUFG’s general ledger, Advent Geneva. The unique, proprietary application imported data from the client’s side and set up all of the requisite portions of the deal in Advent Geneva in an automated, streamlined fashion. To compliment this enhanced technology base, additional audit trail reports were built to integrate and aggregate MUFG and client data exports for the purposes of creating a fast and effective review process.

Measurable Results

The result? What was once a cumbersome, manual process littered with errors and risk became an integrated, efficient, automated workflow for one of the most complicated strategies in alternative investments. Significant time was shaved off the month end NAV process through the elimination of manual work and the creation of enhanced reporting, a classic example of how the combination of experienced individuals and best-in-class technology can lead to dramatic operational improvements. In addition, the turnaround time for the month end NAV was significantly reduced through the elimination of manual work and the creation of enhanced reporting processes. MUFG cut the NAV delivery time down from over 20 days to 10 days, a significant improvement in operational efficiencies.

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