Northern Trust has launched a range of new client dashboards for its middle- and back-office technology platform for alternative fund administration.

The enhancements for the Omnium Technology Platform focus on providing clients with greater transparency into workflows and metrics.

Additional features include interactive data visualisation capabilities, readily accessible static reports and a customisable interface to enhance cash management, trade capture and overall workflow.

“With our new, web-based client dashboards, alternative investment managers will have real-time access to the data they need, in a flexible and customisable manner to optimise their businesses in today’s investing environment,” said Peter Sanchez, head of alternative fund and Omnium business services at Northern Trust.

“We continue to heavily invest in the Omnium platform as we build out its capabilities to address future industry needs, working side by side with our clients to further enhance the user experience, maximise transparency and drive Operational Alpha.”

The client dashboards feature a streamlined interface, which Northern Trust says will enhance the user experience and are optimised for mobile devices to provide key decision makers with real-time, on-demand access to their portfolio information.

In Global Custodian’s 2019 hedge fund administration survey, client feedback showed how data services have become a pre-requisite now for hedge funds and their investors. Meanwhile, factors such as reliability, speed and ease of use are separating service providers when it comes to client dashboards and investor portals.

Fund managers are looking to drill down into their data, whether it’s their P&L, NAV or front-office information, forcing administrators to invest heavily in their technology and dashboards.

Demands for real-time data, reporting and transparency are increasing as fund managers look for more information for themselves and their clients, meaning technology can often make or break client relationships, forcing fund administrators to invest heavily into their offerings.

“It’s really about data access at any time and giving clients the ability to drill down into the P&L on any particular day,” added Sanchez, in Global Custodian’s hedge fund issue.

“We don’t believe you can be in fund administration and not have a core offering that’s centred around data access. It’s manifested itself through dashboards and these really tell client themes and stories about the fund’s performance and what’s driving it each day, showing all different types of attributes and characteristics of the fund and drilling down into the source of what’s driving the output.”