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Industry: Private Client – Investment Holding Companies
Solution: Aggregation of Assets Portfolio for Management Reporting (Fund under 13U Tax Incentive)
Results: Standardised consolidated reporting, NAV-reconciled insights, strengthened client retention and expanded mandate
Table of Contents
The Challenge
A private client required management reporting for a fund operating under the 13U tax incentive. The client’s investments were spread across multiple private banking institutions, resulting in fragmented visibility and inconsistent reporting inputs.
The complexity involved 16 investment portfolios across 9 private banks, comprising a wide range of asset types that needed to be interpreted and classified consistently. Private investments were also not reflected within the private banks’ reporting, making it difficult to obtain a complete view of the overall portfolio.
In addition, portfolio statements varied significantly in structure and completeness, with missing sections and no standardised format. This increased the risk of errors and inefficiencies, while limiting management’s confidence in the overall investment and performance reporting.
The Solution
Our team was engaged to consolidate and standardise the client’s investment information into a single, management-ready view. The work was delivered in three structured stages:
Stage 1: Data Capture & Standardisation
We established a consistent reporting base by:
- Using OCR tools to capture and organise investment asset types and classes across institutions
- Addressing inconsistent layouts, missing sections, and non-standard portfolio summaries
- Standardising information across the different portfolios to support consistent reporting
Stage 2: Consolidation & Fund Flow Traceability
To create a complete investment picture, we:
- Traced fund flows using information provided by the client and supporting records
- Consolidated all individual portfolios into a centralised worksheet with a consistent structure
- Established a single source of truth to support ongoing management reporting cycles
Stage 3: Validation & Reporting
To strengthen the accuracy and reliability of the reporting, we:
- Reconciled variances against the Net Asset Value (NAV) reports and investigated differences
- Prepared consolidated management reports to provide clearer visibility of the overall investment position and fund performance
- Held a closing meeting with the client to walk through the findings, reporting outcomes and fund performance
The Results
With a consolidated reporting framework in place, the engagement delivered:
- Management reports that were consistent with the client’s understanding and supported by NAV reconciliation
- Improved transparency across a complex, multi-bank investment structure
- A standardised reporting framework that supported more efficient and consistent ongoing reporting
- Continued client engagement across five financial reporting cycles, followed by an opportunity to assist additional companies within the client’s group — reinforcing trust and expanding the relationship
How AccountServe Can Help
Whether you require portfolio consolidation, NAV reconciliation, fund accounting services or more structured investment portfolio reporting, AccountServe can help bring your financial information together into a consistent reporting framework.
Speak to our AccountServe team to explore how we can support your investment reporting and ongoing management needs.
Fionn Shoo
Director
FionnShooPY@rsmsingapore.sg
How Ya Wen
Director
HowYaWen@rsmsingapore.sg
