The Bank of New York Mellon Corp. is acquiring Milestone Group, a fund management technology vendor, so that BNY Mellon can provide its custody banking clients with more digital solutions for net asset value (NAV) support, officials say. The Milestone Group offers the pControl platform for fund and investment automation. The acquisition will help BNY… Read More >>
Legacy IT Constrains a Firm’s Growth: Q&A on OCIO
(A report issued this past October from the Milestone Group focuses on how the investment strategies and the related portfolios overseen by outsourced chief investment officers (OCIOs) are becoming more complex. The report, “Outsourced CIO, Fiduciary and Delegated Investment Technology Survey: Findings and Conclusions” finds that portfolio complexity will likely continue as a function of… Read More >>
Jupiter Asset Management Uses the Cloud for NAV Oversight
U.K. fund management firm, Jupiter Asset Management, went live this past October with a cloud-based platform from the Milestone Group that automates the collection of fund valuation data and the independent verification of daily net asset value (NAV) prices, officials say. The move to the Milestone system, pControl Oversight, was driven by a spike in… Read More >>
SEI Picks Milestone Group Platform for OCIO Business
SEI, a provider of asset management and investment operations solutions, has decided to use a multi-asset software platform from the Milestone Group to bolster its outsourced chief investment officer (OCIO) efforts. OCIO services vary by provider and can include: asset allocation advice; manager monitoring, research and selection; trust and custody services; and administration services, according… Read More >>
BMO Financial Group to Overhaul NAV Processing
In a sweeping overhaul, BMO Financial Group (BMO) will be moving from a manual “tick and bob” system for its net asset value (NAV) production, validation and distribution processes to an automated platform intended to mitigate the risk caused by manual errors and improve investment fund administration and client service.Automation will bring efficiency and control… Read More >>
