Mellon European Fund Services, the fund administration arm of Mellon in Europe, has bought from fund accounting software firm Global Investment Services (GIS) its MSHARE application. This will be the platform for its offshore transfer agency business. MSHARE will provide Mellon clients with multi-currency functionality, flexible charging and commission structures, together with web access.
“The selection of MSHARE(r) as our offshore transfer agency platform is a tangible demonstration of Mellon’s commitment to its European fund services business and reflects the acceleration of our growth in this market,” says Kevin Potts, Managing Director of Mellon’s Fund Services business in Ireland. “MSHARE provides us with the tools to deliver a fully web-enabled solution to our clients, regardless of location or time zone and will enable us to be more competitive in the marketplace and significantly expand our presence.”
Melon describes MSHARE as scalable, and employing the most recent advances in client/server technology. It adds that it can support a wide range of transfer agency operations. “With its open architecture, it can interface with a variety of third-party reporting and data analysis tools. A recent and significant enhancement to the system has been a state-of the-art performance fee equalisation module. In addition to the core MSHARE system, Mellon also will be utilising the Fundware Lite application for client web access. GIS’ strategic partner, Metrosoft Inc, provides Fundware Lite,” explains the bank.