The DTCC platform now oversees 10,000 unique funds and has 2,200 clients.
DTCC officials have announced a milestone for its Alternative Investment Product Services (AIP), which has had a 20 percent increase in the number of funds to 10,000-plus unique funds. In addition, the number of AIP clients has risen to more than 2,200, an increase of 28 percent. These increases occurred over the past year.
The AIP Services platform is used by broker/dealers, fund managers, fund administrators, and custodians and offers a standardized, end-to-end process for alternative investments such as hedge funds, funds of funds, private equity, non-traded real estate investment trusts (REITs), managed futures, and limited partnerships, officials say.
DTCC officials add that the post-trade infrastructure systems and service provider has “continued to enhance its AIP offering this year, delivering new capabilities including Document Transfer and Delayed NAV purchase support,” according to the initial announcement.
“These new processes enable users to share documents while mitigating risks effectively and efficiently on incoming files and providing the ability to automate purchase orders for complex Business Development Companies products. This further enhances firms’ ability to decrease the cycle time to execute transactions by removing manual processes, increasing transparency, and improving resiliency,” officials say.
“We remain committed to supporting our clients’ evolving needs by providing scalable infrastructure that automates critical processes, essential to advancing the alternative investments industry,” says Ann Bergin, DTCC managing director and general manager, wealth management services, in a prepared statement.
The AIP service was launched in 2008 and is a centralized, standardized trading and reporting platform that links the alternative investments industry to exchange data, officials say. “The service includes centralized money settlement for orders, distributions, and other financial activities and is situated between product providers or issuers and distributors, acting as a transaction processing and trade execution channel.”
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