âIn todayâs low interest rate environment, syndicated bank loans are a key investment strategy option for managers seeking better yields,â said Vernon Barback, GlobeOp president and chief operating officer. âBank loan portfolio risk requires close management, and daily processing is operationally complex. Multiple investment instruments, counterparties and vendor relationships are compounded by large volumes of related documents. As we did with GoOTCâ¢ for derivatives, our solution transformed GoLoans into a single secure database environment for all lifecycle activity and documents. Managers can choose a portfolio level view or drill down to individual transactions.â
Barback added, âSpecialist as well as billion dollar hedge funds are demanding greater operational control and efficiency around bank loan processing. GoLoans leverages technology scale and integration for quicker data access â and reduced operational risk associated with spreadsheets and physical document storage.â
Established in 2006, GoLoans is an independent, proprietary service. It offers highly automated lifecycle management support for a wide range of instruments, including revolvers, term loans, delayed draws, multi-currency and payment-in-kind (PIK). Position accuracy and independent portfolio valuations are determined by directly accessing and comparing multiple external data sources. A dedicated team of experienced bank loan specialists advocates on behalf of clients directly with agent banks and counterparties.
GoLoans integrates a high degree of straight-through processing (STP), searchable online document archives and exception-based reporting. Fund managers benefit from online access to full sub-ledger capabilities, granular lifecycle event details and related documents. Reporting is daily and can be customised.