Shanghai Genesis Finance Information Service has chosen NeoXam’s NX GP3 as its fund accounting platform to provide outsourcing services to its clients in the asset management field.
In November 2014, the Asset Management Association of China released guidance for fund business outsourcing services, providing stipulations on the outsourcing business of mutual and private equity funds. The guidance came into effect on 1 February 2015.
As a result of this new regulation Genesis was formed by Howbuy and senior players in the fund administration industry, with HSBC’s former Asia Pacific head of fund services as its chief advisor.
Yongqian Gao, COO of Genesis, commented: “We have chosen NX GP3 for its recognised capacities to automate fund administration processes and to increase operational efficiency in a cost-effective manner. NX GP3 will enable us to gain differentiated competitive advantages to support our rapid business innovation and expansion.”
Yanqing Wang, head of NeoXam China, added: “NX GP3 will enable Genesis to benefit from the best practices in the fund administration sector, especially to third-party administrators, with the cumulated experience of our 140 plus clients based in 25 countries. NX GP3 will support Genesis’ future growth by providing technical services.”
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