Schroder uses Milestone for 45 minutes 25 September 2013Luxembourg Reporter: Georgina Lavers
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Milestone Group, a fund processing solutions provider, has seen its pControl platform for fund oversight snapped up by Schroder Investment Management in Luxembourg.
The solution enables the asset manager to automate the critical daily NAV validation process, which involves processing up to 1,400 prices from its global fund range within a 45-minute timeframe.
Prior to the deployment, Schroders ran price validations and checks manually, receiving and entering files into spreadsheets.
Gary Janaway, operations director at Schroders, said: “It is increasingly important to carry out oversight functions in a more effective and efficient manner. We recognised the need to have a solution in place that both complemented our proprietary system, and enabled us to focus on managing business challenges, rather than just running laborious checks."
"The implementation went well, and since the deployment, pControl has provided us with a one stop shop for the validation of fund price data, meaning that our staff can now focus on managing exceptions, instead of crunching data.”
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