Here are some of the core capabilities of Harmony

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Portfolio Valuation / Accounting

At the core of Harmony lies its portfolio valuation and accounting capabilities. Tracking portfolio activity, reporting historically, organizing by asset class/sector, consolidating accounts – those are just the tip of the iceberg. Your ability to view accurate portfolio holdings and investigate positions gives you full control and direction on all of your reporting.

Some of the options available to you include:

• View by account, account group (i.e. household) or on a consolidated basis
• Run reports as of any date with no restrictions
• Choose to sort the report based on multiple options (i.e. Asset Class, Industry Group, Classification, Currency, Security Type, Account)
• Drill down on positions to see a security ledger report
• Drill down on securities for detailed security information
• Mark holdings as unmanaged or fee exempt for quick report exclusions
• Multi-currency, consolidated or non-consolidated cash holdings

One of the key advantages of Harmony is the ability to navigate through reports by simply clicking on the figures generated. The reports themselves are interactive and figures within each report become links which you can drill down on simply by clicking on that particular figure.

There are no longer any mysteries when you are looking at your portfolios in Harmony. Reports come ‘alive’ with the drill down functionality and you gain a full audit trail on the data that is presented to you in the reporting.

Performance Measurement

One of the top priorities most new clients have when evaluating Harmony or another portfolio management system is undoubtedly how it can handle performance calculations.

Industry regulations, audit requirements and client demands are all reasons why accurate performance reporting is of the utmost importance. Harmony offers an unparallel level of depth and a breadth of performance functionality that is sure to satisfy the requirements of your firm.

With the introduction of CRM II and NI 31-103 many firms have been challenged by the requirements to report performance using a dollar-weighted or IRR calculation. With Harmony, you will have the option to run performance in both dollar-weighted measurement and also in true time-weighted methodologies.

The following list outlines some of the key performance functions at your disposal:

• Performance measured at portfolio level, consolidated portfolio/account level, sector, sub-sector, asset class, industry group and security level
• Run performance at any frequency (annual, quarterly, monthly, weekly, daily) and on any date range
• Run performance verification and integrity checks on the numbers produced
• Use performance reporting in client statements generated in Harmony
• Choose to calculate performance net of fees or before fees and to include or exclude income.
• Import benchmark and index data and compare on performance reporting
• Create custom or blended benchmarks for use in comparisons
• Assign default benchmarks to portfolios for performance reporting
• Create and maintain composite groups and run composite performance figures
• Accurate security level attribution reporting, security contribution reporting and security level returns reporting

Fees and Billing

Harmony’s fee ‘engines’ give you the power to calculate the most complex fee arrangements while keeping the process simple and straightforward. The end product will always be accurate and transparent fee calculations that can be broken down for clients, custodians, referring partners and brokers.

There are a myriad of features and options at your disposal when looking at Harmony’s fee capabilities. Many other systems are sold specifically for their fee modules but within Harmony the fee capabilities will generally exceed those stand-alone fee products.

Here are some of the ways that Harmony can make running your Management Fees a smooth process:

• Define tier-based fee schedules with no limit to the amount of tiers within each and no limit to the number of schedules overall
• Manage accounts within fee groups (i.e. a household), combining the assets for billing purposes and generating an invoice for all accounts at the same time
• All calculation frequencies supported – daily, monthly, quarterly, semi-annually, annually
• Assign the specific province of taxation for accurate calculation of HST (GST)
• Input ‘Fee Start Date’ and ‘Fee End Date’ for accounts opened/closed in the middle of a billing cycle
• Assign discounted fee schedules to specific accounts (even when part of a group)
• Mark accounts and holdings as ‘Fee Exempt’ to be excluded from fee calculations
• Make notes and alternations/discounts to fees once calculated, should you choose
• Generate detailed invoices that can be sent to clients with all fees broken down clearly
• Sort fee data by custodian and create electronic files which can be sent directly to the custodians in order for them to process those fee transactions
• Customized performance fee calculations
• Calculate fees paid to referring partners (trailers, referral fees)
• Run asset class and security level fee calculations
• Calculate and report projected fee revenue

A good portion of every implementation is spent looking at your specific fee requirements in an effort to automate as much as possible. We’re never surprised at requests for changes or customized methodology but we would be surprised if we could not handle all of the intricacies of your fee calculations.

Compliance

Compliance is at the core of many of the processes involved in day-to-day investment management. Rules can be imposed for a variety of reasons: new industry legislation, internal procedures/controls, investment strategies, client restrictions, etc. With Harmony you are covered on all fronts and the dynamic tools available will ensure that nothing falls through the cracks.

One of the key advantages that Harmony will offer your firm is the ability to create/define your own compliance rules and parameters. You’re not limited to assigning compliance rules from a pre-defined list and instead you have the ability to define any rule that you require. The rules which you create can then be linked to accounts for monitoring and alerting purposes. Rules may be based on a variety of reasons and, rest assured, whatever the scope of the rule, Harmony can handle it.

With proper compliance rules in place, you will be able to monitor your accounts on both a pre-trade and post-trade basis. That means, when you are running a trading strategy or are proposing a new trade, Harmony can run a check against all the rules associated with the accounts involved. If there are violations the users will be alerted to the infractions and trades can be adjusted.

You can also use Harmony’s compliance functionality to ensure accounts stay in line with their model or IPS range by monitoring the account and alerting you to discrepancies. Automating these checks and reports make satisfying compliance (and KYC or suitability) requirements even easier.

Modelling and Trading Strategies

By integrating various trade strategies and accommodating modeling at the account and household (consolidated account) level, we’re confident that you will be able to use Harmony to generate new trades, rebalance portfolios and gain the foresight into new trading proposals. Tying compliance rules into the trade process will also enhance the process as the system will alert you to violations and potential issues with the new trades that are proposed.

At the core of the trading functionality present in Harmony is the electronic Order Blotter which is ultimately where trades are organized before being sent for execution. This order blotter is fed from multiple trade strategies (a list of some below) and is built with many different options to ensure trades are accurate, complete and all relevant details are captured.

For additional foresight, Harmony also has “What-If” Analysis reporting that is available allowing you to see the impact of the proposed trades on your accounts prior to fulfillment.

The following trade strategies are available in Harmony:

Portfolio Trading Strategies:

• Trade Allocation
  • % of Portfolio
  • % of Portfolio by Family/Account Group
  • % of Portfolio by Aggregate
  • % of Asset Class (Level 1, Level 2, Level 3)
  • % of Asset Mix
• Interactive Trade Allocation (make adjustments directly on a portfolio appraisal)
• Prorate by Portfolio / Asset Class Size
• Prorate Shares to Allocated Target
• Increase or Decrease Position by %
• Raise or Reinvest Cash
• Interactive Portfolio Appraisal with Click-Through Buy/Sell Functionality

Modeling Strategies:

• Create and maintain multiple models
• Choose to have static models or link models to market fluctuation/dynamics
• Assign portfolios to models for rebalancing and monitoring
• Model at the portfolio level or consolidated portfolio level (i.e. household)
• Define asset mix models (model of models, separate models by asset class breakdown)
• Consolidated asset mix modeling for rebalancing at a household level
• Rules based trade allocation on consolidated trade modeling

We understand no two firms are completely alike when it comes to their entire trading process but the system is built in such a way that we can accommodate the subtleties that define your trading. As the system is implemented, we work closely with you to integrate the system functionality that is there with your ideal trading process.

GL-Level / Fund Accounting

While Infinite Investment Systems will not serve as your fund administrator, Harmony is equipped with many of the tools and reports required to cross-check fund accounting reports.

In Harmony you can produce such reports as:

• Net Asset Value
• Trial Balance
• Income Statement
• Balance Sheet
• Summary of Income Tax Information
• General Ledger Reconciliation
• Chart of Accounts
• Account Analysis on Trade Date
• Security Sub-Ledger
• Capital Stock Report
• Cost Continuity
• Income Trust Summary

What makes fund accounting all the more simple on Harmony is that there are no additional processes to run. The reports and data are all completely integrated with the front office functions of your firm. With all transaction types being mapped to appropriate GL accounts, the accounting is essentially being completed by the system without any additional input.

Many users take advantage of the fund accounting functionality in Harmony to run in parallel to their fund administrator – as a check and balance or reconciliation to the information that their fund administrator is reporting.

CRM and Account Management

Harmony has come along way and there has been a great deal of development to ensure that users have all of the typical CRM tools required by an investment management firm. Along with having a great deal of functionality at their disposal, users will benefit from the integration of CRM and client details within your core portfolio management system.

The result is fast and efficient client administration and seamless and accurate reporting for all clients and accounts.

Harmony’s CRM capabilities include:

• Full client and contact details database (i.e. address, telephone, email, relationships and much more)
• Communications and activity log
• Electronic file/document storage sorted by account/contact
• KYC input, storage and alerting (for renewal purposes)
• Client asset mix and assignment to model
• Account level restrictions
• Account-to-model comparisons and monitoring
• Account fees and exceptions for billing
• Account groups – for purposes of households, managers, mandates, etc.
• Manager and contact links to accounts and account groups
• Ability to create custom fields and track additional client information

Harmony can also be integrated with your Microsoft Outlook allowing you to review emails sent and received from your clients. By synching email communication with your clients in Harmony users gain quick and easy access to review the latest correspondence with your clients.

Additionally, Harmony also gives you the opportunity to setup and assign tasks to manage workflows internally. Using Harmony for task management ensures your team can confidently see what needs to get done and work to complete it.

Customized Client Report Packages

Users have access to over one thousand reports in Harmony across all of the functions that can be run on the system. From valuation to performance and from fees to portfolio activity, there is no shortage of reporting available and with Harmony’s report packaging functionality, this gives you the capability of creating Client Reports.

Ultimately, you’ll define what you want to send to your clients and what information you want to convey on your statements. With Harmony you are free to choose the reports you wish to include in your report package and will have the entire system’s report catalogue available to do so. With Harmony’s report packaging tool you can create multiple report packages and have multiple report package styles – for both clients and for internal purposes – and you are flexible to determine which reports are contained in each.

Reports are all ‘white-papered’ and at a minimum your logo will appear on each report in their generic form. However, if you prefer to have a custom look and feel or more closely represent your brand, we are more than prepared to customize reports for you. Simply tell us what you are looking for and our team will go to work to create your ideal client statement.

Additionally, we can help facilitate and support a web portal where clients can log in and view statements and account information that you allow them to see.

Electronic Reconciliation and Data Exchange

When a system is compatible with another system or a trusted partner further efficiencies can be found. That is the philosophy that we subscribe to and has been one of the foundational elements to the design of Harmony. We are ready and willing to work with other vendors or your internal system and export data into and out of Harmony should you require.

One of the most critical functions for most portfolio management firms is reconciling your data with your custodian. Since the custodian is the official book of record, most clients want to ensure that their data is in line with what is reported there. In some instances, clients use data reconciliation as a ‘check and balance’ process to insure the information from the custodian is accurate as well. In Harmony, this is straightforward and for many custodians the process can be automated. The system generates clear and concise reporting showing the user any discrepancies that may exist.

Harmony is built in such a way that it can interface with a variety of custodians, market data vendors, brokers and additional systems. Currently there are more than 200 points of connectivity in the form of imports and exports into and out of Harmony.

Where connectivity with a third party does not exist, our team will work to develop that functionality for you. This also includes connectivity to market data providers, trade execution systems and trade settlement systems.

Customizations and Enhancements

We understand that Harmony cannot be provided as off-the-shelf software – the way you conduct business and its nuances from your competitors affect your operations. That’s why throughout the implementation process we are ready for the inevitable tailoring that is often required.

A "cookie-cutter" system roll-out would simply not work. Your business is distinct from your competitors in the marketplace and therefore we know the system needs to be able to adapt to some of these unique requirements. The good news is, Harmony is that flexible and the ability to customize is one of the key advantages of implementing the system.

Customizations are never a requirement but in our experience they are often a reality in many implementations. With that in mind, as your partner, we are poised to work with you to deliver on these customizations in a timely and efficient manner.

Beyond just offering the capability to customize, we are also committed to reducing or eliminating your costs to do so when customizations can be produced and rolled out as enhancements to all of our other users. We will provide free enhancements when any customization requested by one of our clients results in broader implementation on the entire Harmony platform. We are committed to our partnership with your firm and this is one way where we can ensure the system is always evolving to meet the changing needs of the industry and we are responsive to your requests and the changing nature of your business.

Important Additional Features

In addition to the features listed and explained above, there are even more key functions that Harmony offers. At a glance, a few more of the key features are:

Outlook Integration

Sync your outlook mailbox with Harmony and review emails sent and received to and from your clients and contacts in Harmony.

Cash Management

Monitoring the day-to-day cash activities of your firm with detailed cash ledgers. As well as projecting cash balances and viewing receipts and disbursements in the days and weeks ahead.

Cash and T-Bill Wizard

Using the cash projection reporting, the system will also provide you with a tool that generates T-Bill buy and sell suggestions based on the cash available.

Corporate Actions

In Harmony, users can input corporate actions and run them in bulk across multiple accounts. Much of this can also be automated. Additionally, if a client is subscribing to a market data provider, corporate action information can automatically be read into the system and processed without any intervention.

User Restrictions

Harmony has a dynamic security algorithm enabling you to dictate user access at a group and individual level. This means, you can control what your employees are able to see and do on Harmony. This could be something like read-only access on a set of reports or may be completely eliminating specific functionality from a group of users, for example.

Web Portal

At an additional cost, we can set up a web portal for you or use your existing IT infrastructure so that you can publish reports from Harmony which clients can then access on the web. If you want to be able to have clients login to view account and statement information, a web portal may be a secure and reliable option and we will work with you to construct this interface to match your own brand and requirements.