Milestone Group provider of managed technology solutions for the global investments industry, today release findings from its first UK focussed oversight survey.
Global fund managers with a combined total of £1 trillion AUM shared insights on how they have addressed oversight since it was raised as an industry issue in 2013 by the FCA’s Thematic Review. Oversight is where fund managers have outsourced fund processing or fund accounting activities while maintaining independent in-house verification of service providers’ outputs.
Four years on, the findings show the importance fund managers are now placing on oversight systems, but more importantly the idea of continued improvement within the industry.
Key findings include:
Fund managers stated that corporate activity and moving third party administrator were two of the key reasons for reviewing oversight processes.
“There was a buzz of interest in oversight post the thematic review in 2013, and today there is a new wave returning, focusing on the technology capabilities of oversight systems,” said Paul Roberts, Managing Director, EMEA at Milestone Group. He also commented: “Increasing corporate activity with a number of mid-tier managers coming together to form top tier businesses is having a heightened impact on oversight processes and systems too.”
Milestone (AIM: MSG), the AIM and Social Stock Exchange quoted provider of digital media, technology and social impact solution, announces that it has...View article
International fund manager implements pControl Oversight across multiple regulatory domiciles and service providers. Milestone Group, provider o...View article