Current market conditions are leading to an increase in Asset Management outsourcing.  Leading Asset Managers are looking for new ways to maximise operational efficiencies and minimise risk, while enhancing portfolio returns and launching new products globally.  Back office Fund Accounting, Transfer Agency and Custody Services; and middle office fund operations, are being increasingly outsourced in Europe to specialist fund service companies such as State Street, RBC Dexia and BBH.

At the same time, regulatory changes and an increased focus on governance and compliance obligations across increasingly sophisticated instruments and portfolios are forcing other Asset Managers to invest in and upgrade their internal AM applications and platforms to deal with compliance, mitigate risk and remain competitive in a turbulent market.

Whether you’re looking to outsource or manage internally, Convergent can help during these difficult times and budgetary constraints. We combine both business and technical consultancy with a wealth of specialist experience in Asset Management across front, middle and back office projects and integration of leading vendor solutions. As a smaller, focused consultancy, we offer specialist expertise and big project experience, more affordably, flexibly and efficiently than the typical large consulting practices and vendors in this space.

Recent AM projects include:

Fund Accounting

• Outsourcing Back Office Fund Accounting and Transfer Agency functions for the AM division of a global bank. Working with all parties, including business operations, AM IT and the third party outsource service provider, Convergent has delivered:
  • Programme management and business analysis to define and transition to a new target operating model, outsourcing business operations and IT.
  • Architecture and development services to design and integrate data interfaces; and implement control and compliance functions between the banks internal systems and the 3rd party outsource
• IGEFI Multifonds: Major back office application and platform upgrade of IGEFI Multifonds Fund Accounting from V2.7 to V3.2, driven by tax law changes and reporting requirements for a leading European asset management company.
  

Portfolio Management / Order Management

• Fidessa Latent Zero Capstone: Implementation of Fidessa Latent Zero Capstone, a leading front office suite for portfolio analysis, scenario modelling, order generation, order management, trading and post-trade processing and compliance.  Includes development of an interface between Fidessa Latent Zero Capstone and IGEFI Multifonds Fund Accounting.
• StatPro Composites: Integration of StatPro Composites for Portfolio Analysis and Compliance at a leading asset manager.

Asset Management Data Warehouse

• Assets Under Management (AUM): Data Warehouse design and implementation for Assets Under Management (AUM) consolidating and reconciling over 90 global feeds for centralised financial, marketing and regulatory reporting for a global bank.

Risk Management

• Bespoke development of a centralised Risk Management application for Portfolio Management, analysing and replacing several end-user developed operational tools with a centralised .Net SQL Server framework.