Scenario
This leading Wealth Manager has a range of UCITS and non-UCITS funds that they also offer to their clients. There are about 100 funds.
The client already had a portfolio management system. However, they also needed a solution to support their investment compliance monitoring, portfolio performance risk analytics and their investor reporting, including KIIDS and all related calculations.
The funds were held across 8 different fund administrators.
What the client was looking for
The clients OMS / portfolio management system was deeply embedded in the organisation but was unable to provide the additional monitoring and reporting required for risk and compliance. The client was seeking an additional solution to plug as many gaps as possible without impacting on any core business processes or requiring any systems integration work.
Why Funds-Axis was selected
The client selected Funds-Axis for a range of reasons, including:
- Our ease of implementation, including with no dependency on the OMS given our ability to take the data directly from the administrators.
- Availability as a SAAS solution without any need for server provisioning or IT involvement
- Our record of customer service, with some clients onboard for nearly a decade
- The broad regulatory coverage and the optionality to add / remove various modules with ease.
- The regulatory first approach with integrated regulatory content and training.
The perceived barriers
The client was unsure as regards their priority for various requirements and where unsure whether to move ahead with smaller tactical requirements or with a strategic solution.
We assured the client that Funds-Axis would take the lead in integrating all data and that thereafter it would simply be a case of deciding which modules to activate first and to go-live with. The client could decide and prioritise on the go-live modules as they wished.
How things look today
The initial setup, data integration and testing took us just 4 weeks once the client had approved the data flow with its administrators. Every day we aggregate data from multiple different fund accounting platforms. Having aggregated all the holdings, rules are processed in less than 10 minutes to provide complete coverage of UCITS, non-UCITS and prospectus rules, together with leverage and liquidity monitoring.
The relationship has now extended from investment compliance monitoring and now we also provide the client with Annex IV Reporting, FCA Derivatives Use reporting, Liquidity Monitoring,
