Curo supports Old Mutual Multi-Managers
South African investment administrator, Curo Fund Services has upgraded its pricing capabilities of investments layers within its multi-manager service for its client, and part owner, Old Mutual Multi-Managers.
The new service offering follows Curo’s recent deployment of Milestone Group’s pControl platform, which offers an investment platform for unit trust and life company clients. Implementing pControl Curo delivered flexible administration services across operations such as near-asset-value unit pricing, portfolio rebalancing, unitised order management and distribution support.
Russel Julie, chief operating officer of Old Mutual Multi-Managers stated: “ pControl speeds the overall process in producing an output with the required level of integrity at first pass. ”
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 automate.”
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.”
Old Mutual Multi-Managers clients include large retirement funds, which have direct access to its product portfolio.