In data management, Knowledge Date — also called “As At” date functionality — refers to the ability to store the same data point based on the information available at a certain point in time.
For example, your firm’s accounting system may show a portfolio’s Year To Date performance as 10% on February 1, but then as 11% on February 4 after an adjustment is booked. In this case, without a Knowledge Date-enabled system, firms may find it challenging to answer the question, “What was the year to date performance for Portfolio X as of February 1”?
Many enterprise-level data warehouse systems, including the NorthPoint Data Management Solutions (NorthPoint DMS), can load data for a specific date or range of dates from a variety of sources, including holdings, performance, accounting, pricing, and compliance data. In other systems, if data is reloaded for a date or range of dates, the original values will be deleted or archived and replaced with updated values. However, Knowledge Date-enabled systems save original as well as changed values.
Why is Knowledge Date important?
There are a number of accounting or risk data sets that can be recalculated and reprocessed over time. Valuations can change, certain issuers release data that can change the economics on a position, and other information can arrive late, depending on the source.
For example, your firm has an investor report due, but the information is not final. Typically these reports will have disclaimers to that effect, but sometimes a change can be significant enough that an investor or regulator will question the correctness of the data or underlying calculations. With a Knowledge Date-enabled system, your firm can extract all details from the date the report was generated, including positions, valuations, and transactions, among others.
Ultimately, having a Data Warehouse with Knowledge Date functionality allows your firm to better analyze data, provide backup to your reporting, and enable a more comprehensive audit process.
About the Author
Johan Glozman is a Managing Director at ACA Technology. Johan has more than 20 years of software consulting and product implementation management experience working with various investment strategies and business functions in the capital markets sector. As a member of the ACA Technology leadership team, Johan manages product design and direction. He also helps clients define their overall requirements and oversees implementation teams to ensure delivery of needed solutions. Johan’s deep domain expertise in hedge funds, asset management, and technology makes him a valued adviser to clients and assures their satisfaction. Before joining ACA Technology, Johan was a consultant specializing in software solutions. He worked with a variety of firms—BISYS Hedge Fund Services (now Citi Fund Services), State Street Research (acquired by MetLife), Philips Medical, and Biogen IDEC, for example—to help solve technical problems via a business-focused approach. Early in his career, Johan served as a consultant with Granitar, Inc. and Kanda Software, Inc., taking on roles such as a business analyst, project manager, software architect, and “hands-on” developer.