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Laxman Pai, Opalesque Asia: Northern Trust has reached an agreement to invest in Parilux Investment Technology as a key step in the development of its Front Office Solutions business designed to meet the operational and technology needs of in-house investment teams managing complex, global multi-asset class portfolios.
According to a press statement, Parilux's software will power an integrated data management platform that delivers range of information and functionality for investment teams of endowments, foundations, corporations, family offices and other sophisticated asset owners focused on asset allocation and manager selection.
Parilux's functionality includes investment book of record, accounting and risk analytics for alternative assets, as well as performance reporting and document management.
The release quoted Pete Cherecwich, President of Northern Trust Corporate & Institutional Services as saying that: This investment is a strategic partnership for Northern Trust and a sign of our commitment to technology innovation that enables investment transparency for global asset owners"
He added that the goal is to simplify the lives of institutional investors by providing a shared digital and service platform that integrates data into one system, streamlines operations, enables smarter investment decisions and facilitates better communication and information sharing across teams.
Front Office Solutions is led by Melanie Pickett, who joined Northe...................... To view our full article Click here
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