Investment fund software provider Multifonds has launched a new product that allows fund administrators to consolidate their investor servicing and transfer agency operations into a single, industry-scale platform across all investment types.
The new product is the result of an extension of the former Multifonds Transfer Agent platform to fully support alternatives. It has been rebranded as Multifonds Global Investor.
Five administrator clients of Multifonds are committed to using Multifonds Global Investor. Three of these clients, including European Fund Administration, are already using the platform to operate alternative and long-only funds together on the single investor servicing and transfer agency platform.
The new product is supporting more than $1.2 trillion in assets globally.
It is designed to meet the investor servicing needs of both the alternatives and traditional markets, according to Multifonds.
It delivers functionality for alternatives, including partnership accounting, and for unitised funds, fund-level performance fees, using both investor equalisation, as well as series of shares processing.
For long-only funds, it delivers full fund distribution capabilities, including commission structures, and controls, such as 4-eyes checking, control reports, audit trail, investor risk adequacy check and linking order processing, with fund rules such as AML/KYC.
The new product supports fund structures such as limited partnerships, hedge funds with series of shares, hedge funds with equalisation, master/feeder fund structures, fund of funds and alternative UCITS funds, as well as mutual funds, money market funds, UCITS funds and unit trusts.
On top of the new product, Multifonds has recruited professionals to expand its alternatives expertise.
Sern Tham, the head of alternatives product, joined Multifonds from Citadel (Omnium). Tham leads a team that includes Jeff Sedgwick, who recently joined Multifonds from Advent.
Multifonds recently opened an office in Ireland, a leading centre for alternatives, which is headed by Alan Raftery, who previously led Koger’s Dublin operations.
In the US, Peter Muldoon has joined Multifonds from Linedata, where he was responsible for the Mfact and Mshare products globally.
Oded Weiss, the CEO of Multifonds, said: “We are delighted to offer clients a proven, scalable solution for alternative as well as traditional funds. Multifonds Global Investor is the only transfer agency product that can offer a combined long-only and alternatives solution."
"As a single platform across different fund types, it enables our clients to reduce their cost of ownership, deliver consistent reporting to both managers and investors, and improve operational efficiency through implementation of a consistent operating model.”
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