Fund manager installs oversight software on its outsourced estate

12 March 2012

Schroder Investment Management is implementing Milestone Group’s pControl software to improve the management and transparency of its outsourced fund accounting processes and enhance its regulatory reporting capabilities.

pControl’s Fund Oversight module will provide Schroders with effective oversight of its third party service providers, ensuring service level agreements (SLAs) are met and client service and regulatory reporting and compliant procedures are maintained at all times. The automated solution will allow the fund manager to monitor, validate and analyse all components of their investment funds valuations process from a single point of reference and drill down into transaction and fund data when forensic examination is required, which will also be beneficial to its risk oversight and general procedures.

The software monitors key service provider outputs against SLAs and automates verification processes by utilising data management, process control and exception management techniques claim the manufacturers.

According to Gary Janaway, operations director at Schroders, the firm has been in need of the solution for a while. “We recognised the need to have a system like pControl in place for some time and had begun to build a proprietary system to manage this process,” he explained. “When Milestone Group showed us pControl, however, it was clear the solution was exactly what we needed. The software can deal with the multi-class, multi-currency complexities of the investment vehicles we offer, and its flexibility and scalability were critical [factors] as we focus on improving the quality and efficiency of the fund services we provide.”

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