Year: 2021

RiverNorth Capital Management, LLC, a U.S.-based opportunistic strategy investment manager, has chosen SS&C‘s front-to-back solution to manage its USD5.3bn portfolio. SS&C will provide front-to-back services for RiverNorth’s registered funds, private funds and institutional SMAs. RiverNorth uses SS&C as its fund administrator for its ’40 Act and private fund portfolios.

Broadridge Financial Solutions, a fintech provider, has gone live with its its distributed ledger repo (DLR) platform. The launch comes after multiple pilots with sell-side and buy-side firms. DLR provides a single platform where market participants can agree, execute and settle repo transactions. DLR allows for the immobilisation of the underlying securities in the repo…

Crestbridge, the C.I.-based administrator, has appointed James Watts as head of client operations within its institutional segment. He is responsible for the development and enhancement of cross function systems, controls and procedures that support the strategic management and growth of client relationships. Prior to joining Crestbridge, Watts was group fund operations leader for IQ-EQ.

In what is thought to be the largest fund administration mandate in Asia Pacific, the Hong Kong unit of the UK’s Prudential has consolidated >USD70bn across  more than 40 portfolios with Citi. Citi will provide Prudential Hong Kong Limited with fund accounting, transfer agency and reporting services. This mandate represents the consolidation by Prudential of…

Arcesium, the U.S.-based financial technology and professional services firm, has launched PerformA, a performance allocations product designed to simplify the investor accounting process and reduce the risks, costs, and manual errors associated with spreadsheet-based fund accounting. PerformA is tailored for different client types, including hedge funds, fund administrators, and private equity firms.

Ultimus, a U.S.-based provider of fund administration, accounting, and investor solutions, has been appointed as transfer agent for Parnassus Investments, a San Francisco based fund family with USD41.7bn AuM. As part of the transition, over 300,000 Parnassus shareholder accounts were converted to Ultimus’ TA system. Parnassus focuses on building wealth by investing in companies that…