Milestone Group to provide NAV Oversight for OppenheimerFunds
Milestone Group, the global provider of fund processing solutions to the funds industry, has announced that OppenheimerFunds has selected its NAV Oversight solution. pControl NAV Oversight gives organizations automated in-house verification of outsourced fund processing functions.
The news comes amid increasing demands for greater transparency and operational control across the industry. This added pressure on service levels and accuracy is driving a move to greater automation of oversight functions to deliver the required levels of efficiency and transparency. Geoff Hodge, CEO of Milestone Group, said:
That’s why we’ve created a purpose-built automated solution that provides transparent, timely review of the end-to-end process. We’re delighted to be working with an organization of OppenheimerFunds’ reputation and caliber, and look forward to developing the relationship with them over the coming months.
pControl’s NAV Oversight will allow OppenheimerFunds to have a tailored view into the NAV calculation process without replicating their third party service provider activities. NAV Oversight provides a fully hosted environment to monitor holdings at both fund and security level and independently validates NAVs received from outsourced fund administrators.