Automating PM economics
While trading P&L was available daily, true PM economics were only available as part of the month-end close, typically delivered one to two weeks after period end.
Desk Economics
Desk economics. Clearly understood.
Understand the economics of each desk, portfolio and broker relationship.
The problem
Where desk economics gets stuck
Trading P&L is often available daily, while the full economics of each desk and portfolio manager arrive weeks later. These are the gaps multi-manager platforms describe most often.
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PM economics only available at month end
With HUB
PM-level economics and compensation reporting are calculated daily.
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Net P&L assembled from many sources
With HUB
Trading, financing, expenses, soft dollars, fee allocations and deal mechanics come together in one PM-level net P&L.
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Daily figures and month-end figures that differ
With HUB
Daily accruals and month-end closes are standardised, so the figures used to run the business match the ones used to measure it.
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Explaining how each figure was reached
With HUB
Auditable logic sits behind every figure, for every stakeholder.
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Understanding each broker relationship
With HUB
The economics of each broker relationship sit alongside desk and portfolio figures.
Illustrative view
Desk economics at a glance
Net contribution by desk after commissions, financing and data costs. Desks and figures are sample data.
- Expenses
- NAV
- Reporting
- Economics
- Desks
- PM statements
- Brokers
Desk economics
September 2026
Net contribution by desk after commissions, financing and data costs
| Desk | Gross P&L | Commissions | Financing | Data and research | Net contribution |
|---|---|---|---|---|---|
| Global macro | $4,850,000 | −$312,400 | −$186,900 | −$94,000 | $4,256,700 |
| Equity long/short | $3,120,000 | −$408,300 | −$254,700 | −$121,500 | $2,335,500 |
| Credit | $1,940,000 | −$96,200 | −$312,800 | −$58,000 | $1,473,000 |
| Total | $9,910,000 | −$816,900 | −$754,400 | −$273,500 | $8,065,200 |
Illustrative product view. Sample data only.
How it works
PM economics every day, not only at month end
Trading P&L is available daily. HUB Desk Economics brings the rest of each PM’s economics alongside it.
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01
Portfolio manager statements
A statement for each portfolio manager, built from the same daily figures used to manage the business.
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02
Net P&L by PM
Automated PM-level net P&L calculations incorporating trading, financing, expenses, soft dollars, fee allocations, and deal mechanics.
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03
Daily accruals and month-end close
Both are standardized, with auditable logic for all stakeholders.
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04
Broker economics
Understand the economics of each broker relationship alongside each desk and portfolio.
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05
Margin management
Keep margin in view alongside each desk’s economics, on the same daily data.
PM economicsIllustrative
TradingFinancingExpensesFeesNet
Desk economicsIllustrative
Desk 1Desk 2Desk 3Desk 4Desk 5
Daily accrualsIllustrative
Net P&L accrued dailyMonth-end close
Connections
Works alongside the systems you already use
Desk Economics brings together the inputs behind each PM’s economics and delivers statements and reporting to the people who need them. The connections for your setup are agreed during implementation.
Information coming in
- Trading P&L
- Financing costs
- Expenses and soft dollars
- Fee allocations and deal terms
Desk Economics
Information going out
- Portfolio manager statements
- Compensation reporting
- Daily accruals
- Month-end close
Questions
Frequently asked questions
Can we start with one desk?
Yes. Many platforms start with a group of desks or portfolio managers and add others later, using the same data and rules.
Which costs are included in PM economics?
PM-level net P&L incorporates trading, financing, expenses, soft dollars, fee allocations and deal mechanics. The inputs and rules for your platform are agreed during implementation.
How often are the figures updated?
PM-level economics and compensation reporting are calculated daily, with daily accruals and the month-end close following the same auditable logic.
What does implementation involve?
HUB products can be deployed in around four weeks, with managed data onboarding and a proof of value at no cost, delivered under NDA with full onboarding support. Together we agree the sources, checks and outputs for your setup and plan the work around your team.
How is our data kept secure?
HUB is built on Microsoft technology with a security-centric design. Access, approvals and changes are recorded within each workflow.
See Desk Economics with your own desks in mind
Tell us how your platform measures PM economics today and we will show you how it could run in HUB.