Auckland-headquartered fund administration firm, MMC, have completed the transition of Milford Asset Management\u2019s unit registry from previous provider, Trustees Executors.<\/p>\n\n\n\n
In a statement, Milford head of products and operations, Mark Ryland, said the firm consolidated its back-office services under MMC to drive efficiencies and underpin the manager\u2019s integrated \u201cinvestor portal\u201d.<\/p>\n\n\n\n
\u201cMilford has a vision of developing and controlling our own investor portal where all solutions can be integrated into a single location. To do this we needed to partner with a provider that has the technology and capability today and in the future to help drive our clients\u2019 experience,\u201d Ryland said.<\/p>\n\n\n\n
He said Milford had already seen improvements in back-office processes since shifting to MMC for unit pricing and fund accounting services more than three years ago.<\/p>\n\n\n\n
MMC picked up the Milford registry contract last year after serving as the manager\u2019s fund accounting and unit pricing provider since 2014. Milford manages more than $5 billion across its range of 20-plus KiwiSaver and portfolio investment entity (PIE) funds.<\/p>\n\n\n\n
\u201cIt made sense to have all of our investment funds\u2019 administration services with MMC to leverage that service and technology,\u201d Ryland said in the release.<\/p>\n\n\n\n
\u201cThe nine month project involved the transition of over 30,000 investors and five million historical transactions from the last ten years which, together with the data provided through MMC\u2019s APIs [application programming interface], helped power the successful first stage of our investor portal.\u201d<\/p>\n\n\n\n
Tom Reiher, MMC chief, said the Milford transition highlighted how cutting-edge technology could help fund managers deliver on their growth strategies and improve client services.<\/p>\n\n\n\n
\u201cSpecifically, in addition to MMC\u2019s KiwiSaver registry capabilities, an important catalyst for Milford for the transition was the ability to receive a full suite of APIs to support the Milford portal,\u201d Reiher said in the statement. \u201cMMC\u2019s API technology allows clients to create powerful interactions between themselves and their investors.\u201d<\/p>\n\n\n\n
For example, he said the MMC technology allowed Milford investors to produce individualised investment returns via the web portal.<\/p>\n\n\n\n
The move marked a heightened focus for MMC on investor-facing technology to build on its traditional strengths as a fund back-office administration provider, Reiher said.<\/p>\n\n\n\n
\u201cBy offering a variety of service options including APIs and hosted solutions, MMC is able to put their clients\u2019 requirements and brand first, with flexible platforms and styling customisations,\u201d he said.<\/p>\n\n\n\n
MMC has more than $43 billion in funds under advice across 26 clients. Following the Milford deal, the business also provides registry services for over 100,000 investors including with foundation KiwiSaver clients Simplicity and Generate.<\/p>\n\n\n\n
\u201cThis is a strategic growth area for MMC,\u201d Reiher said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Improved back office processes cited as key driver for unit registry transition to MMC.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n