ACQUISITION BRINGS NEW PROVIDER TO FUND ADMINISTRATION MARKET

WORLD LEADER IDENTIFIES NEW FUND ADMINISTRATION BUSINESS AS SUCCESSOR IN MARKET

The fund management market is to benefit from the recent acquisition of two leading fund administration businesses by Fundsoft, a new independently owned company.

Fundsoft have acquired the CUTAS fund administration products and services operation from Cap Gemini Ernst & Young, the world providers of global consulting technology and outsourcing services. This strategic sale to Fundsoft by Cap Gemini Ernst & Young, has been supplemented by the purchase of the COBAS fund administration system, an already established market leader which was originally developed by Scottish Computer Services Ltd.

With a team of experienced people across offices in Glasgow, London and Guernsey, Fundsoft will continue to service all existing CGEY clients, offering a high level of quality support with fast and effective solutions, which currently include some of the biggest names in global finance.
They will also utilise the already market proven and established COBAS technology to deliver one of Europe’s most technically advanced fund administration systems.

"With our future ambitions based heavily on servicing this industry, clients can be assured of exceptional service and choice of fund administration solutions," said, Mark Culham, Client & Partners Manager.

"Fundsoft will now be able to deliver a new breed of fund administrative platforms and complimentary products. This is an excellent opportunity for Fundsoft to make its mark and maximise on our industry knowledge and experience with the COBAS technology. We also now have a prestige client base with whom we look forward to establishing strong links and forging good relationships for the future."

"With the recovery in the market now clearly evident, we are seeing lots of potential for Fundsoft’s products and solutions within the whole range of financial service providers. The key is offering solutions based on proven technology that increase revenue and reduce operational cost from day one. Fundsoft offers this perfectly."

For both on and off-shore areas the COBAS platform covers the following:
- European Unit Trusts and OEICs Management
- Offshore Fund Management
- PEP, ISA & SIPP’s Management
- Pooled Pensions Management
- Hedge Funds Management
- Fund Consolidation
- Property Fund Management
- Wrap Product Management
- Fiduciary Information Self Service and Delivery
- Business Process Outsourcing
- Funds Automation

The products and solutions based on the COBAS technology are windows based and compatible with an extensive range of platforms and operating systems. With a choice of deployment options available from mainframe to a standard laptop and connectivity to EMX, NSCC, Euroclear, Fundserv & Fundsettle, Fundsoft’s solutions are as flexible as any clients needs.

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