The market volatility which re-emerged in 2018 has played out well for hedge funds, due to their ability to be more nimble. In this environment, SS&C GlobeOp has met the demands of the sector by providing a holistic technology platform that meets present and future needs as fund managers look to make their internal operations more efficient and robust.
Ken Fullerton (pictured), Managing Director and Head of SS&C GlobeOp’s Hedge Fund Administration business, says: “2018 was a very successful year for SS&C GlobeOp. We have been able to expand our capabilities and solutions across all fund types and structures. These capabilities have further enabled us to win significant mandates for hybrid funds and middle office services.
“The underpinning of our offering continues to be our expert workforce and our investment in transformational technology, such as machine learning and robotic process automation and increased cloud and mobile capabilities.”
The firm is dedicated to ensuring the highest level of client satisfaction. “We recognise the need to continuously develop and enhance our service offering and core technology. These enhancements are driven by regulatory changes, specific client needs or other factors. We assess our product development roadmap to ensure that our technology and services remains viable and competitive. We have programmes in place to evaluate our client service, which include finding ways to continuously improve how we assist clients with their business,” says Fullerton.
According to the 2018 eVestment Alternative Administration survey, SS&C was the market leader with USD1.6 trillion in alternative AuA. In 2018, the firm strategically acquired four companies – CACEIS North America, DST Systems, Eze Software and Intralinks – which further diversifies and enhances its offerings.
Looking ahead into 2019, SS&C identifies another trend in the market which is seeing the growing need for solutions to help asset managers make their businesses more scalable. This is a result of fund managers looking to evolve their offering and provide different types of fund structures, invest in new fund strategies and enter into additional markets. Fullerton says: “In order to scale, we are seeing these firms outsource operational activities to leverage our extensive technology and industry expertise.”
Further, in terms of specific clients and services, SS&C continues to see significant opportunities in illiquid credit, direct lending and closed-end fund structures. These funds require a service provider like SS&C who has the expertise and an extensive technology capability to service these complex structures.
“We continue to see momentum in Asia and expect this to continue in 2019 and beyond. SS&C has a well-established team in Asia with a follow-the-sun support model,” says Fullerton.
Over the coming year, SS&C aims to continue providing superior client service, timely accurate services delivery and innovative solutions so its clients can focus on what they do best – manage investments. Fullerton says: “We recently announced the appointment of Joe Maxwell as Technology Head of our Hedge fund administration business. He will be responsible for driving technology strategy and roadmap leveraging technological advancements such as natural language processing and robotics.”
On winning the award, Fullerton comments: “We would like to thank our clients who voted for us to receive this award. Winning reinforces our client centric approach. We aim to focus on what our client’s current needs are while being prepared to grow and evolve as their requirements change. We strive to achieve this throughout all levels of the organisation and this award validates that commitment.”
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