UK asset manager Baillie Gifford has extended its partnership with technology vendor Linedata with a five-year agreement to utilise its fund accounting platform, Linedata Icon.
Along with Linedata Icon, Baillie Gifford will also adopt Linedata Icon ASP for a three-year contract.
The new agreement allows Baillie Gifford to continue to leverage Linedata Icon as its primary accounting book of record (ABOR) solution and for net asset value (NAV) calculation.
The addition of Linedata Icon ASP will provide Baillie Gifford new resource capabilities through outsourcing of daily support tasks.
“Linedata Icon’s extended capabilities will enable Baillie Gifford to continue developing its fund accounting processes. We always aim to be a strategic partner for our clients, supporting them in digital transformation,” said Aldric Dupaïs, global head of fund services at Linedata.
Baillie Gifford and Linedata have a well-established relationship, where the UK asset manager has used Linedata’s Icon fund administration solution for over 20 years. It has also recently started using Linedata Navquest, Linedata’s NAV validation and price dissemination solution.
Linedata said in a statement that Linedata Icon has enabled Baillie Gifford teams to manage funds on a single platform, with automation of back-office processes, including NAV checks and reporting– which has proved especially useful with remote working due to COVID-19.