Linedata, a provider of solutions for the investment management and credit industries, reports “significant updates” to Admin Edge, its fund administrator platform, officials say. The updates are in three key areas, the New York City-based vendor says.
“Firstly, there is improved integration and automation of data flows between the fund accounting and transfer agency areas,” according to Linedata. “Secondly, in the fund accounting element, there are developments which streamline and automate key processes, along with enhancements to the underlying core technology.
“The third area of enhancement of this new version of Linedata Admin Edge is to the transfer agency element, delivering FATCA [the Foreign Account Tax Compliance Act] and other regulatory updates, enhancements to its allocations module and updates to NSCC [National Securities Clearing Corp.] DTCC functionality,” officials say.
Mfact, Admin Edge’s “fund accounting engine,” now includes a “redesigned reversals and corrections module which improves the automation of all background calculations and processing steps required when changes to historical transactions are needed,” according to the company’s statement, which also calls the redesigned module a new “time-saving and risk-reducing feature.”
Mfact “also sees significant changes in the underlying operating technology,” with a redesigned database, “to allow for the speedier roll-out of technologies such as stored procedures, leveraging the power of the Oracle database for current and future developments,” officials say. “These changes alongside other technology initiatives are part of a continuing investment in core technology to further improve the processing speed and stability of the application.”
Mshare, its transfer agency software, now “enables transfer agent users to set up FATCA reporting such that the reports are run automatically, accessing data from the product, and forwarded to the authorities in the required XML format, reducing the administrative overhead whilst maintaining full compliance with the regulation,” Linedata notes. “There are also AIFMD and FormPF updates to ensure that Linedata Mshare is up to date on all regulations, as well as enhancements to the NSCC module.”
Additionally, Mshare includes “improved partnership-level reporting” in the allocations module, “which automates allocations for complex fund structures, calculates fees and computes then posts the net asset value for each share class, series, side pocket or individual partner in the fund,” according to the statement.
“Linedata believes that automation is the key to efficiency and lower operational risk in the back office,” Thierry Soret, Linedata’s head of back office asset management, says in the statement. “In this latest version of Linedata Admin Edge, we have brought together a number of initiatives that bring real streamlining and automation to fund administration.”
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