Multifonds, a Temenos company and provider of investment fund software, reports the expansion of its core transfer agency (TA) solution, Multifonds Global Investor (MFGI). It says this is to meet the needs of its asset servicing clients as they seek to consolidate and rationalise their TA processing systems. Since the launch in 2012, the MFGI client base has grown by more than 80 percent and assets on the platform have increased by 50 percent. MFGI now supports more than S$1.8 trillion in assets across 20+ global fund domiciles; specifically MFGI has more than 20 percent market share in Luxembourg and Ireland.

With the regulatory change agenda putting pressure on margins, service providers are having to look internally at ways to reduce costs and maximise efficiency; simplifying their technology architecture and consolidating operating models and systems (often as a result of mergers and acquisitions) is increasingly seen as the way to achieve this. In response, Multifonds has expanded its robust core TA system, removing the need for multiple ancillary third-party systems, such as for trailer fees and payments. 

Multifonds says its key strategic clients have welcomed the extensions and 40 percent have already committed to using the extensions which include: 

·         Retrocessions - replacing the need for a separate trailer fee system, MFGI provides a fully comprehensive trailer fee engine for the calculation of commission fees and rebates to the agent and investors.

·         Workflow and exception management (WEM) – in response to the need for increased efficiency, MFGI deploys the workflow management tool, WEM to proactively monitor and control every stage of the TA workflow.

·         Cash management – replacing the need for a separate payments system, MGFI delivers a payment processing module to control inbound and outbound invoicing and payment processing for cash payments and receipts.

·         Data segregation – for professional secrecy and investor consent, MFGI supports data segregation to investor level for regulatory compliance around data storage and client permissions allowing clients to operate a follow the sun global operating model across locations.

·         Integration – to realise the benefits from a single integrated platform, MFGI extends its integration capabilities, including an off-the-shelf interface/adapter to NSCC for 60+ message types.

 

Fund administration, corporate and real estate specialist JTC has boosted its presence in Luxembourg with the acquisition of Signes, a Luxembourg-based ‘Expert Comptable’ business that provides accounting, administration and tax compliance services to institutional investors.

 

Nomura Research Institute (NRI), a provider of consulting services and system solutions, reports the successful go-live of its custody solution with Golomt Bank of Mongolia, which it describes as a pioneer among Mongolian banks in introducing initiatives to accelerate development in the regional financial sector.

 

Stichting Bedrijfspensioenfonds voor het Bakkersbedrijf (Bpf Bakkers), the EUR 3.4 billion Dutch pension scheme for the bakery sector, has mandated State Street to provide a range of investment servicing solutions.

Australian boutique asset manager Bennelong Funds Management Limited (Bennelong) has appointed RBC Investor & Treasury Services as its custodian and administrator. 

 

Brown Brothers Harriman (BBH) is the first global custodian to go live on the new Omgeo ALERTS GC Direct service.