Managers seek out managed services for additional support
SS&C Advent: Best Managed Accounts Technology Provider – As the global asset and fund management markets grow, so do their operational challenges.
Increasing transaction volume, product proliferation, and complex investment strategies put a strain on in-house resources. Firms can get bogged down in the details of mundane but essential activities, like ensuring data accuracy, daily reconciliation, closing periods, internal reporting, and accurate investor accounting.
There has been a growing demand for managed services from fund managers looking for solutions to alleviate and delegate these burden of ownership. “We have witnessed a significant increase in clients asking for our assistance concerning managed services, be that from a technical perspective, hosting the infrastructure, and increasingly from an operational standpoint,” observes Ben Goderski, Regional Sales and Relationship Manager, SS&C Advent.
SS&C’s Geneva covers the full spectrum of an investment management business, offering front office decision support and portfolio management, middle-office automation through trade capture and reconciliation, full portfolio, fund, investor accounting, and reporting. The solution is designed to support complex global investment strategies and has more than 300 firms worldwide relying on it.
Goderski expects this part of the business to continue growing in 2021 and the firm aims to expand on its offering. “We want to make it easier for clients to access and report on data. We have also enhanced our closed-end fund functionality to support further the appetite for managers to invest in private equity and other alternative asset classes.”
As economies worldwide are starting to re-open following Covid-related lockdowns, hedge fund managers are looking for ways to diversify their portfolios. “They are exploring ways to make the most of the opportunities available. We are seeing clients considering investments in more complex derivatives, structured products, loans and private equity,” Goderski notes.
The broader scope of investment leads to a greater need for complex accounting solutions and has reinforced SS&C’s position and ability to help its clients. “SS&C has a long track record of success supporting these complex investments. Geneva already supports a range of instruments such as private equity and closed-end funds. We’re also expanding it to make more investment types available. Our solution is constantly evolving and we always make sure new instruments and functionalities are included.”
Significant enhancements have also been delivered to ensure Geneva can support the transition from LIBOR to SOFR. “Since this change will have such a considerable impact on so many different asset classes, preparing for LIBOR cessation has been a critical project. We believe our systems and managed services are ready to best support our client base for the challenges ahead,” concludes Goderski.
Ben Goderski, Senior Sales & Relationship Manager, SS&C Advent
Ben Goderski currently holds the position of Regional Sales & Relationship Manager at SS&C Advent, a global provider of Solutions and Services across the financial services industry. Ben has spent over 20 years in the fintech sector supporting a wide variety of clients including hedge funds, wealth managers and service providers. Throughout his career, Ben has developed an extensive knowledge of the changes and challenges the investment market faces.