SERVICES
Fees, accruals and allocations with transparent rules and review.
Fees, accruals and allocations with transparent rules and review through a controlled, source-linked workflow.
Overview
This capability operationalises recurring fund-level calculations such as management fees, performance/incentive fees where relevant, operating accruals and investor/share-class or partnership allocations under approved fund terms.
A specialist accounting module below Fund Accounting and NAV.
Why it matters
Recurring calculations become risky when terms are interpreted differently across spreadsheets, share classes, periods or providers.
Common operating challenges
- Fee terms encoded inconsistently.
- Accrual assumptions not reviewed.
- Allocation differences across classes/investors.
- Manual true-ups and reversals.
What we deliver
| Capability | What it covers |
|---|---|
| Rule setup | Translate approved fund terms into calculation inputs and review rules. |
| Recurring calculations | Prepare fee/accrual/allocation schedules. |
| True-up workflow | Process authorised corrections and reversals. |
| Reconciliation | Tie outputs to books, NAV and provider records. |
Our role can be configured around a defined operating mandate: a recurring managed service, a technology-enabled client workflow, or a co-sourced model in which execution and review are split between Kelton, the client and appointed providers.
Inputs, workflow and outputs
Typical inputs
- Fund terms/side letters where applicable
- NAV/AUM/capital data
- Expense schedules
- Investor/share-class records
- Prior calculations
Controlled workflow
| Step | Activity | What happens |
|---|---|---|
| 1 | Set rules | Confirm approved parameters. |
| 2 | Load data | Collect period inputs. |
| 3 | Calculate | Apply controlled logic. |
| 4 | Validate | Run reasonableness/reconciliation. |
| 5 | Review | Route exceptions. |
| 6 | Post/support | Deliver approved schedule to accounting/NAV workflow. |
Typical outputs
- Fee calculation schedule
- Accrual roll-forward
- Allocation file
- True-up log
- Review evidence
Controls and review
The workflow is designed so that automation does not obscure responsibility. Routine processing can be standardised; exceptions, material judgements and formal approvals remain visible and attributable.
- Versioned rule parameters.
- Maker/checker.
- Material-change review.
- Source linkage to approved fund terms.
Responsibility boundary
We support calculation workflow; legal interpretation of fund documents and official accounting/NAV treatment remain with authorised parties.
Technology & expertise
Our operating model combines specialist knowledge with controlled technology. Domain experts define the rules, review logic and exception criteria; the technology layer makes the workflow repeatable, traceable and scalable.
Technology
- Calculation engine.
- Parameter/version control.
- Movement checks.
Expertise
- Fund accounting.
- Performance-fee and private-fund allocation workflow.
Expert knowledge is converted into controlled rules, SOPs, checklists, validation tests and exception criteria so that the operating standard is embedded in the workflow rather than dependent on one individual.
Delivery models
| Model | How it works |
|---|---|
| Managed Operations | We execute the agreed recurring workflow. Client and appointed-provider approvals remain explicit. |
| Technology Enablement | We implement the data, workflow and control layer for the client team to operate. |
| Hybrid / Co-sourced | Execution and review are shared through a documented responsibility and escalation model. |
| Transition & Implementation | We mobilise the workflow during a launch, provider change or target-operating-model transition. |
Frequently asked questions
Can fees be fully automated?
Recurring logic can be automated after approved rule setup; unusual terms and judgement remain reviewed.
How are side letters handled?
Only through authorised, access-controlled rule variants where they legally affect the calculation.
Discuss Fees, Accruals & Allocations
Start with one workflow, one operating issue or one provider transition. We will map the current process, responsibility boundaries, required data and a practical first engagement.