fund ad·min·no·va·tion /fʌnd ədˈmiəˈvāSH(ə)n/ noun: administer; 3rd person present: innovation; plural noun: innovations

1. Calculation of the net asset value (“NAV”) including calculation of the fund’s income and expense accruals and obtaining pricing from 3rd party valuation sources
2. The action or process of innovating a new method, idea, product etc. "Opus redefines the fund administration industry through innovation"