Fund administrator Maitland has selected Milestone Group’s pControl platform to enable it to provide an enhanced administration service to multi-manager clients in South Africa.
Maitland believes that multi-manager fund administration in the region is underserved by existing solutions, with pControl providing a great opportunity for much needed improvement.
Through the implementation of pControl, Maitland will be able to provide clients with a consolidated view of underlying investments and market leading functionality.
This is particularly important, given recent changes to South African prudential investment rules that place an increased burden of compliance on local multi-managers.
“We have long recognised a ‘twilight zone’ in accurate accounting of multi-managed portfolios,” said Dale Lippstreu, project sponsor at Maitland.
“pControl addresses the middle ground between the asset register and investor ledger where spreadsheets have reigned supreme, and allows us to lead the way in ensuring the uncertainty of this ‘twilight zone’ is no more. We now have the ability to offer a superior service to our multi-manager clients and will look to grow our business across the sector.”
