Boutique funds manager Parker Asset Management yesterday confirmed it would take up Garradin investment administration modelling and compliance software, replacing modules provided by Financial Simplicity.
The agreement means that Garradin will supply Parker with back, mid and front-office investment administration software: the modeling and compliance modules would merge with back and mid-office system Garradin Portfolio, which is already used by Parker, Garradin chief executive officer, Stephen Bowhill, said. Bowhill said the combined system would enable “straight-through” transactions, including portfolio modeling, broker management (including pre-trade compliance and tax screening), taxation processes and reporting. Parker, which is still using Financial Simplicity software, would not confirm when the additional modules would go live.
Since taking over the top job at the $44 billion Funds SA more than a year ago, chief executive John Piteo has ushered in an investment function overhaul and wrapped up an important stage of the fund’s five-year data transformation program. It pledges to recentre around investment performance and more efficient processes, as the “missing piece” has been found in incoming CIO Con Michalakis.
Darcy SongJanuary 10, 2025
