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.
The brunt of losses from the LA wildfires are expected to be borne by primary insurers and high-risk reinsurance programs, but super funds are nevertheless closely monitoring the possible impact of the fires on catastrophe bond and insurance-linked securities exposures.
Simon HoyleJanuary 17, 2025
