Cash flow management demands by institutional investors can range dramatically, from simple to highly complex, and need to take into account settlement periods, asset rebalancing, receipt and processing of instructions, tax payments, end-of-year receipts and many more. Managing the complexities of diversified assets across multiple managers presents additional complexity and cost-implications, especially when individual investor’s requirements are to be taken into account. Ensuring complete accuracy and fairness to individual savers and investors of a larger scheme requires maintaining an accurate, day-to-day view of activity across all asset classes and manager mandates and then correctly attributing these to the individuals. This typically requires some form of unitisation.