HSBC Securities Services (HSS) has implemented a new fund administration model in Asia. The new platform allows HSS to extend its capabilities to pension and sovereign wealth funds and is in response to regional demands for transparency in the face of increasing market volatility as well as regulatory scrutiny.
"Fund managers are under pressure to grow and our clients want to be assured that we can continue to meet their requirements through this global expansion," said Drew Douglas, co-head of HSS. "While at the same time maintaining consistent service levels and an efficient global operating model."
The new model is being deployed across Hong Kong, Singapore, Malaysia, India, Indonesia, Thailand, Vietnam and Philippines in the first phase. Apart from functionality provided by fund accounting platform, Multifonds, the infrastructure includes Cadis for trade processing, Mig-21 for compliance monitoring, Actuate for report writing with a data warehouse, Transaction Lifecycle Management for reconciliation and AWD for workflow management
