South African fund administrator Curo Fund Services has implemented Milestone Group’s pControl platform to automate administration services that Curo has now started to use enhance transparency for its client Old Mutual Multi-Managers.
By implementing pControl, Curo says it can deliver more efficient and flexible administration service across processes such as NAV unit pricing, cash allocation and rebalancing, unitized order management and income distribution. Curo can now provide Old Mutual Multi-Managers with increased end-to-end process transparency by using pControl’s integrated reconciliation, accounting and data manager capabilities.
“In a first for the South African market, pControl removes manual processes, which enables Curo to support the likes of Old Mutual Multi-Managers in offering complex investment structures while at the same time providing greater visibility across the business,” says Hank Pienaar, managing Ddrector of Curo. “This deployment is a significant step in dealing with one of the key challenges typically faced by multi-managers—ensuring the integrity and transparency of the various investment layers or ‘building blocks’ within a product portfolio.”
Regarding the benefits that Curo can now offer through pControl, Russel Julie, COO of Old Mutual Multi-Managers adds: “This allows us to further enhance our service to clients. In a traditional multi-manager portfolio administration system, inconsistencies are only detected after you’ve run through an entire day’s pricing. This may necessitate a complete rework, which could result in significant delays. pControl differentiates itself by following a sequenced validation approach for processing transactions and pricing of multi-managed portfolios. This means interventions are possible at each validation point, so we’re able to resolve inconsistencies earlier. It further speeds up the overall process in producing an output with the required level of integrity at first pass.”
Curo Fund Services Adds Transparency Capabilities From pControl
South African fund administrator Curo Fund Services has implemented Milestone Group's pControl platform to automate administration services that Curo has now started to use enhance transparency for its client Old Mutual Multi-Managers.