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Pacific Fund Systems – Best Managed Account Platform Technology

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Pacific Fund Systems (PFS) is a global leader in supporting investment fund accounting and administration through its integrated share registry/fund accounting platform, PFS-PAXUS and its real-time web portal, PFS-CONNECT. Rather than having an administrator rely on multiple systems, PFS-PAXUS delivers true integration using a single database infrastructure to deliver greater workflow efficiencies, reduced risk, and more timely valuations. The PFS-PAXUS platform is continually evolving with PFS releasing two major system upgrades per annum. In 2014 both upgrades contained significant new regulatory-related functionality including the full automation in the system for AIFMD Annex IV and FATCA reporting.

In terms of supporting managed accounts a sophisticated allocation module within the system facilitates the maintenance of multiple cells/accounts within a single entity. The web portal, PFS-CONNECT, can then be used for online reporting to both managers and investors. PFS-PAXUS also supports master/feeder and umbrella-type structures which in turn support different legal vehicle types. 

More and more institutional investors are turning to managed accounts as a way to build their hedge fund exposure, and this is putting more demands on administrators to streamline their services. They need a high level of automation to properly service clients and the ability to deliver it online in real time. 

“Our clients are certainly looking to leverage more of the automated capabilities within PFS-PAXUS. I think a watershed has been reached in that there’s much greater appetite now, and comfort around, using the full range of automation tools provided in a product like PFS-PAXUS,” says Keith Parker (pictured), Head of Sales, Europe at PFS.

“In terms of the new regulatory-related functionality in the system and specifically with regards to Annex IV reporting a number of our clients approached us to see if we could assist them as they were being asked by their fund manager clients to assist in the aggregation of the underlying data for reporting purposes. We realised that with PFS-PAXUS being an integrated platform a significant percentage of this data would already reside in the system. We also enhanced the system to be able to accommodate any Annex IV data that existed in other systems and finally created a highly automated capability for Annex IV reporting. 

“PFS-PAXUS can therefore generate the required xml file which can be sent to the relevant national regulatory authority for onward submission to ESMA. It has been well received by our clients although it is still early days given that our clients are still getting used to the filing process, but nonetheless our Annex IV solution has generated a lot of interest based on discussions we’ve had so far. We have, for example, recently had a number of enquiries from Luxembourg about our solution which is very encouraging,” explains Parker.

On winning this year’s award, Parker comments: “We are delighted to win the award. We like to think that this proves that we are a worthy player in the market and now, with more than 75 clients located across multiple global jurisdictions, a vindication that we are doing the right thing by our clients.”

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