Professional services provider Vistra has completed its acquisition of the fund administration and transfer agency business of Phoenix American Financial Services, Inc., officials say. The acquisition did not include Phoenix American’s aviation services business. “This transaction will expand Vistra’s presence and capabilities in the business-critical U.S. market, allowing it to provide deeper and broader end-to-end… Read More >>
SS&C Grows Fund Administration Business in India
SS&C Technologies officials report that they have opened an office in the Indian special economic zone Gujarat International Finance Tec-City (GIFT City), which adds to the post-trade systems and services provider’s presence in India. The International Financial Services Centers Authority (IFSCA), which is the regulatory body for special economic zones, has licensed SS&C GlobeOp “to… Read More >>
Hudson Bay Capital Management Taps SS&C GlobeOp
Hudson Bay Capital Management has tapped SS&C GlobeOp to be its fund administrator, which is in addition to the multi-strategy investment firm’s usage of trade operations and investor support solutions from SS&C Technologies, officials say. Hudson Bay, which is headquartered in Greenwich, Conn., picked SS&C “after a thorough evaluation process,” according to the official announcement…. Read More >>
BNY Mellon FSI DAC Fined $12M for Regulatory Breaches
Citing 16 breaches of the regulations governing fund administration outsourcing, the Central Bank of Ireland fined BNY Mellon Fund Services DAC a total of €10,780,000 ($11.9 million), making it the largest monetary penalty to date ever imposed on a fund services provider in Ireland. “BNY DAC is the second-largest fund administrator in Ireland with just… Read More >>
SmartStream Applies A.I. to Recs Processes
SmartStream Air Version 4 Gets an A.I. Refresh Post-trade solutions vendor SmartStream Technologies recently launched SmartStream Air Version 4, an application update that uses artificial intelligence (A.I.) technology to support real-time and continuous reconciliation processes, officials say. The update “will allow customers to use a much wider range of processing, including payment reconciliations, which is… Read More >>
Why Aren’t Hedge Funds Already at T+0 Reporting?
(Editor’s note: Scott Price, who has been head of business development and client management for North America for Maitland International Holdings since April, says that fund administrators could be doing more to help hedge funds achieve a shorter time frames for reporting. This includes even those hedge fund firms that lack an IT infrastructure. Price… Read More >>
Q&A: ‘The PDF Report is Dead for Private Equity’
Editor’s Note: FTF News spoke this week with Brendan Tyne, managing director, New York, of Augentius (U.S.) Inc., a private equity fund administrator, about the changing operational data demands of the private equity business. The new data demands are causing Tyne to declare that the era of the PDF is dead. Q: How certain are… Read More >>
