South African investment administrator, Curo Fund Services has altered the pricing of its investments layers within its multi-managed portfolio for its client Old Mutual Multi-Managers.
The new offering follows Curo’s deployment of Milestone Group’s pControl platform, which offers an investment platform for unit trust and life company clients.
Using pControl Curo has delivered flexible administration services across processes including ner-asset-value unit pricing, cash allocation and rebalancing, unitilised order management and distribution.
Paul Roberts, managing director EMEA of Milestone Group, said: “Competitive market conditions across South Africa have driven an increased focus on integrity and transparency, which has triggered firms and their service providers to look for automated solutions.”
pControl is a first in the South African market, according to Hank Pienaar, managing director of Curo.
“pControl removes manual processes, which enables Curo to support the likes of Old Mutual Multi-Managers in offering complex investment structures while at the same time providing greater visibility across the business”.
“This deployment is a significant step in dealing with one of the key challenges typically faced by multi-managers,” he added.
Old Mutual Multi-Managers clients include large retirement funds, which have direct access to its product portfolio.
Russel Julie, chief operating officer of Old Mutual Multi-Managers said: “ [pControl] further speeds up the overall process in producing an output with the required level of integrity at first pass. ”
Roberts made a conclusive statement: “pControl has provided Curo’s multi-manager clients with numerous benefits since going live in 2013. We look forward to supporting Curo in their future growth.”
