Phoenix Fund Services, a traditional and alternative fund administration services provider, has partnered with Linedata Services, a provider in the financial technology market, to extend its transfer agency and shareholder services and its partnership accounting capabilities.
Phoenix Fund Services has integrated Linedata’s MShare and MPartner products into its own software services. The move allows clients access to a completely scalable transfer agency and shareholder record keeping system that supports both retail and institutional investment funds, and provides specific functionality for partnership accounting and tax reporting.
The boutique fund administrator is targeting small to medium sized funds seeking an administrator with high levels of client service and a flexible end to end software solution provided by the administrator.
The Linedata products integrate with Phoenix Fund Services’ proprietary accounting platform AAMS, which accommodates a vast range of fund structures and complex securities typically required by alternative investment clients.
Phoenix Fund Services deploys its proprietary order management system within the investment manager’s office and facilitates the delivery of trade information from managers to Phoenix Fund Services’ teams, including a ‘live valuation’ module which integrates with Bloomberg, to give real time access to Phoenix Fund Services’ reconciled portfolio data, including live pricing of positions, allowing managers to more accurately view portfolio data, including intra day profit and loss by position.
“Phoenix Fund Services is a technology motivated administrator and we like to work with clients to give them maximum flexibility in their reporting options. MShare and MPartner give us greater capability to service partnership structures and excellent coverage on performance fee equalisation methodologies,” says Gavin Gray, managing director, Phoenix Funds Services. “The newly integrated software gives wider scope to tailor the methodology and channel through which we deliver information for our clients investors via the web or email for example.”
“We are seeing a real hunger from fund managers, particularly following the credit crisis, for tighter, more frequent or real time reporting structures. Blending Linedata products into the technology offering gives us a greater edge for clients looking for a bespoke service and technology offering,” adds Gray.
“We are delighted that Phoenix Fund Services have chosen our integrated Mshare/Mpartner platform. This platform will allow Phoenix to easily administer highly complex fund structures, which is the core to their expanding and successful business,” says Barry McConville, head of Offshore Business, Linedata.