PFPC says it is extending its European hedge fund outsourcing service into the middle office.
“Investment managers can take advantage of PFPC’s trade support and middle-office services as a stand-alone solution or as part of a comprehensive service that includes enhanced back-office capabilities,” says a spokeswoman. “PFPC has been a leading provider of back-office services to the global investment industry for over 30 years. All services are integrated within the open, modular and flexible technology architecture of PFPC’s Global Enterprise Platform (GEP).Using this new service, investment managers can now remotely access trade information, monitor trade flow processing and view their position, profit and loss (P&L) and performance reports online through flexible reporting tools. This service transmits data feeds quickly and accurately, while also providing direct feeds to clients’ prime brokers, custodians and/or other relevant counterparties.”
PFPC supports all trading activity to help ensure accurate downstream processing. Services include trade execution and order management support; trade confirmation and affirmation processing; trade reconciliation with prime broker, custodian and/or other relevant counterparties; trade settlement; portfolio pricing; position and P&L reporting; integrated interface to client preferred risk providers; and corporate actions processing.
“PFPC’s enhanced back-office services include real-time capabilities to perform a broad range of multi-currency reporting and global tax accounting,” says the spokesman. “Users can manage a wider variety of products requiring the application of international accounting principles and methodologies to support numerous trading strategies. In addition, PFPC offers the means to better control the intricacies of the global fund market with built-in functionality that handles multiple business calendars (allowing for different country holidays), cross-currency pricing and various date formats and languages.”
PFPC’s multilingual and multi-currency back-office services include fund accounting and recordkeeping; financial statement production; alternative investment services; global custody; trustee services (Irish-domiciled products); management company accounting; security pricing; corporate actions; tax services; compliance support; regulatory administration services; transfer agency services; performance fee equalisation; imaging; and alternative investment services.
“This is a fine example of PFPC’s ability to offer comprehensive and personalised solutions through the open, flexible technology of our Global Enterprise Platform,” adds Joan Kehoe, managing director, PFPC International Ltd, a subsidiary of PFPC. “As investment managers’ straight-through processing needs increase, so do the complex challenges faced by hedge funds, fund administrators, prime brokers, global asset managers and mutual funds. By combining best-of-breed technology with our 30 years of experience, we can assist managers through the full transaction life cycle of trading and portfolio management. This offering reinforces PFPC’s continuing commitment to provide clients with technology solutions that meet the rapidly evolving and complex requirements of the traditional and alternative investment industries.”
Technology solutions integrated into PFPC’s GEP include Advent Software’s Geneva solution, Beauchamp Financial Technology’s FundManager, CorrectNet’s infiPOINT and Koger Inc.’s NTAS.