Background
MMc has offered outsourced investment administration services to New Zealand based investment managers and investment product providers since 2004. At 31st December 2008, MMc provided outsourced investment services for 17 clients for funds under administration in excess of NZ$2.6bn. This includes providing full unit pricing and financial accounting services for more than 100 investment funds with a mixture of daily, weekly and monthly unit pricing and NZ IFRS compliant financial statements.
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Executive Team
MMc is a privately owned company that is owned 50% by senior executives and 50% by The New Zealand Guardian Trust Company (a wholly owned subsidiary of Suncorp-Metway Limited).
The Board of Directors includes two senior MMc management staff, two senior New Zealand Guardian Trust management and Peter Scott (an independent director). Peter is an ex managing partner at a major NZ chartered accounting firm.
The directors and senior management team of MMc include Robert Moss and Tom Reiher who have combined experience of over 40 years in providing investment administration services to New Zealand financial institutions.
Robert and Tom have had experience in senior management financial and operations positions with New Zealand investment mangers providing the full range of specialist back and middle office services.
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Business Strategy
MMc is focused and committed to provide 'value added' investment administration solutions and services in the New Zealand managed funds industry. We believe that our core competitive advantage includes:
- Experience and expertise of the executive team that is not matched by any of our competitors or New Zealand based financial services organisations;
- Commitment to quality and service with the MMc executive team working in the business;
- Focus - Investment administration is our only business;
- MMc is committed to pursuing quality business relationships with our clients;
- The quality processes and procedures developed by the executive team are based on our experience in providing investment operations services to New Zealand clients.
MMc works proactively with clients to ensure that the outsourced investment accounting services provided supports their business strategy and investment product structures.
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MMc IT Platform
MMc owns its own proprietary IT platforms to support our business of providing cost effective and value added outsourced investment administration solutions to New Zealand based investment managers and product providers.
Our IT platforms are designed specifically for the NZ managed funds industry and are fully compliant with the requirements under the Portfolio Investment Entity (PIE) tax regime and NZ International Financial Reporting Standards (NZ IFRS).
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