Citi has gone live with Milestone’s unit pricing and valuation platform, pControl, in the latest move to improve funds management industry administration efficiencies.

Citi Global Transaction Services is now in production with the pControl fund processing platform which will provide NAV validations and control with integrated workflow capabilities.

Milestone group said pControl represented a change in how the industry would come to view automation and service delivery around NAV production and related controls.

The system allows clients to streamline a range of fund operations and processes that have proved challenging to automate in the past to achieve increase efficiency, control and transparency in the past.

Milestone’s chief executive, Geoff Hodge, said: “pControl does bring a new dimension to fund processing that enables organisations to meet increasing service quality and timeliness demands, while providing access to very significant gains in efficiency, agility and business scalability.”

pControl’s ability to integrate with a range of upstream and downstream systems, including centralised market data and fund accounting applications makes full end-to-end lifecycle management of the NAV process achievable, the company says.

The platform can perform NAV/unit pricing, validations and prices release, asset level validations and price movement attribution, cash allocation and order management, distribution processing and related tax and accounting for pooled products.

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