Post-trade Tax and Performance Analytics

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Performance and Attribution Reporting

Improve transparency and accountability of fund managers by monitoring activity based on a consistent benchmark with GBST’s proven post-trade tax and performance analytics.

Accurate performance measures

With GBST’s performance and attribution reporting, superfunds are able to measure how well each manager performs against a given benchmark, which can be standardised to incorporate after-tax considerations. This improves transparency and accountability, enabling trustees of superannuation schemes to monitor the decision making processes of a range of fund managers on a level playing field.

Using complex methodology and multiple data sources to create an accurate measurement of portfolio value, the analytics:

  • Takes account of matching cash flows to the portfolio
  • Reflect realised and unrealised Capital Gain Tax (CGT) resulting from corporate action events
  • Trigger CGT impact of rebalancing from composition changes of the underlying benchmark
  • Excludes investors’ discretionary portfolio management actions

As a result, portfolios are accurately valued against absolute returns and managers can be rated on consistent performance criteria.

 

Rules-based configuration

Built using a robust rules-based calculation engine, GBST’s tax engine can handle any level of complexity regarding investment tax. This means that benchmark solutions can range from slight variations, to standard industry indices, to completely customised calculations.

Completely customisable

Our after-tax calculations can be tailored to match the client profile, including the effect on the portfolio of:

  • Franking credits
  • Off market share buy backs including both CGT and Franking credits
  • Capital gains tax (pre- and post-liquidation methods)

 

GBST’s Quant capabilities have been added to expand the after-tax calculation services into global equities on the MSCI global index series, one of the largest provider of indices around the world.

GBST calculates after-tax benchmarks in accordance with Warakirri Asset Management’s proprietary after-tax methodology for their After-tax Performance Analytics Service.

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