Scenario
This client is part of a large global custody bank.
The client has a core system used within its European network. However, this core system only interfaces with the custody bank’s own fund accounting and custody records from within the group.
The client needed a comprehensive tactical solution to be able to support all of its depositary activities across multiple jurisdictions for those portfolios which were with third party fund administrators.
What the client was looking for
The system needed to be able to bring in data from across multiple different fund administrators, custodians and prime brokers, including with different valuation points.
The solution needed to be able to provide all of Investment compliance oversight, leverage monitoring, liquidity monitoring, cashflow monitoring, custody market oversight and NAV oversight
The client was looking for a fully managed outsourced solution.
Why Funds-Axis was selected
The client selected Funds-Axis for a range of reasons, including:
- Our established integrations with a wide range of fund accountants, custodians and prime-brokers
- Our agreed SLA turn-around times including for setting up new data integrations with new fund administrators and prime-brokers
- Our cross jurisdictional regulatory expertise
- Our extensive modular framework which included all required functionality: Investment compliance oversight, leverage monitoring, liquidity monitoring, cashflow monitoring, custody market oversight and NAV oversight
- Our flexibility in being to monitor cashflow monitoring for some funds, investment compliance for others etc. dependent on their group capabilities
- Our clear expertise particularly in the areas of derivatives.
The perceived barriers
The perceived barrier was the existence of the internal group systems. In practice, we have been a long-term tactical solution.
How things look today
The relationship has now endured for 6 plus years with Funds-Axis providing long-term tactical support across a range of jurisdictions, including a broad set of portfolios with different administrators, custodians and prime-brokers.
The relationship has now extended to also include liquidity monitoring and NAV oversight.
