Many niche fund companies who outsource their administration functions to large Third Party Administrators (TPAs) do not get the level of service they require in order service the demands of their customers. This has led to an increasing demand for smaller fund administration companies that are able to offer an enhanced level of customer service. The integrated fund administration solution that Microgen will provide Yealand covers fund accounting, transfer agency, fund valuation and pricing, fee processing, compliance and reporting. Intermediaries and investors will also be able to view their account online, through a secure portal, giving Yealand another significant edge in a highly competitive market.
Yealand commenced the administration Sand Aireâs range of OEIC funds in January.
Stephen Cooke, Managing Director, Yealand Administration said: âItâs not enough just to have a customer service vision â we have to be able to deliver on it. When markets are challenging, clients demand more from their service providers. Most large TPAs arenât engineered to meet this demand. They tend to deliver a basic level of service to all but their very largest of customers which ultimately led us to setup Yealand and to focus on customer service. By implementing a complete solution from Microgen we will be able to provide a significantly enhanced level of service provision that sets us apart from the market.â
The integrated nature of the Microgen 5Series solution means that the infrastructure will scale with increased client numbers and transaction volumes. The Microgen 5Series solution will use Microsoft SQL Server databases on a Windows platform and Microgen Aptitude will manage the integration and management of data across the business.
Douglas Cooper, Head of Business Development, Financial Systems Division, Microgen said: âTo remain competitive companies have to set trends, not follow them. By throwing down the customer service gauntlet, Yealand has created a new service offering that meets market demand for a more secure and innovative way to manage their funds. Putting your data to work and ensuring it delivers a business advantage is critical, but so is retaining control. Yealand has the whole package.â