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Ian Hamilton From Komfie Manalo, Opalesque Asia:
Centro Fund Services, a joint venture between IDS Group and Point Nine, announced the launch of its independent middle office services to the South African investment manager market with the opening of an office in Cape Town.
In a statement, Centro, which means middle in Italian, said that its independent middle office services provide day to day portfolio administration covering trade capture, counterparty trade reconciliations, settlements, reconciliations with other third parties such as fund administrators, prime brokers and custodians, administering corporate actions and delivering related reports. The new service will use Point Nines proprietary web-based platform, Circle.
Traditionally South African investment managers use in-house teams to carry out their middle office services. But this practice has become too costly and complex to manage notwithstanding the ongoing international trend to outsource such services to a reputable service provider who is able to offer efficient and cost saving services based upon economies of scale and excellent software.
Ian Hamilton, CEO of IDS Group commented, "The launch of Centro Fund Services using Point Nine developed software and platform is an exciting initiative. Our experience with international investment manager...................... To view our full article Click here
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