Milestone Group has announced that Henderson Global Investors (HGI) has gone live with pControl Fund Oversight across its extensive range of mutual funds and investment trusts. The Fund Oversight solution has enabled HGI to automate the collection of fund valuation data and the subsequent execution of their independent, daily NAV price validations and controls.
Recent growth has left Henderson managing an increasing number of complex fund structures across multiple administrators, each requiring different controls. While strong internal processes and in-house expertise were already in place, Henderson wanted to standardise controls across the various third party administrators to enable growth and respond to increasing complexity and regulatory demands. The scalability of the solution allowed it to incorporate newly acquired Australian funds into a global standard oversight model in a short timeframe.
Graham Foggin, Director of Operations at Henderson Global Investors, said: “Our valuations team is now overseeing a large number of daily priced funds and share classes across several administrators and different global locations. We wanted to introduce common standards and apply a greater focus to the management of true exceptions. pControl has delivered the automation, speed and standardised validation approach we were looking for. The fact that our main third party administrator is also moving to pControl for NAV calculation brings additional benefits through the common end to end platform.”
Fund oversight is a topic currently high on agendas globally, as regulators have sharpened their focus on the issue. Milestone Group has developed a first-of-its-kind packaged solution, which defines and contains a set of ‘best practice’ oversight controls.
Paul Roberts, Managing Director of Milestone Group in EMEA, added: “Continued regulatory focus on transparency has triggered asset managers to search for a more robust solution to fund oversight. With Henderson Global Investors experiencing an exciting period of growth, it has recognised the importance of having technology that complements its ambitions. As a result, the firm can focus on managing future business goals, rather than just running laborious checks.”