Managed funds administrator Ausmaq and portfolio administrator Praemium yesterday announced completion of an integration program which will soon be taken up by another major institution.
Ausmaq has built a standard interface from its trading and custodian platform to Praemium’s equity trading system, which will allow Praemium to pick up managed fund data in the same way as it does from the traded markets. Rob Brown, chief executive of Ausmaq, said that other institutions were looking at the development, which should be of particular interest to large institutional brokers. “;The [brokers] all have some footprint in managed funds but historically they’ve found the administration difficult,”; he said. The new institutional Praemium user to run with the integration would be announced within the next few months. Brown said the integration of Ausmaq’s system, Fundstreme, with Praemium would deliver improved functionality, quality and timeliness. Arthur Naoumidis, chief executive of Praemium, said that while the firm was acknowledged for its direct equities administration, the interface with Ausmaq added a streamlined managed funds solution to its V-Wrap clients.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
