State Street has successfully implemented its front-to-back Alpha platform for Ninety One, an investment manager specialising in active strategies across emerging and developed markets.
The implementation marks an expansion of the strategic relationship between the two firms established in 2004, which has evolved to include comprehensive middle- and back-office services and integrated trading solutions.
Through Alpha, Ninety One has now unified its operations, with a view to enhancing operational efficiency, optimising data management, and equipping its front-office with improved tools to support investment decisions.
Joerg Ambrosius, president of Investment Services at State Street, said the project reflects the firm’s growing momentum in Alpha onboarding. “We’re proud to deepen our partnership with Ninety One and deliver a solution that meets their complex operational needs,” he said. “The Ninety One go-live is one of many successful go-lives for Alpha clients this year, supported by continued investment in product development and implementation expertise.”
Ninety One’s complex investment universe, which includes emerging-market exposures, multi-asset strategies and a wide range of currency and derivatives instruments, was a key driver behind the move to a more integrated and resilient operating platform.
“State Street Alpha simplifies our operating model and provides greater transparency across the investment lifecycle,” said Cora Kielblock, global head of operations at Ninety One. “Partnering with State Street enables us to focus on delivering value to our clients while leveraging a scalable, efficient infrastructure.”
Speaking on the firm’s Q3 earnings call last month, chief executive Ron O’Hanley stated that the firm is making “meaningful progress” in scaling the Alpha platform.
“We’ve really focused on turning this into a one-at-a-time kind of thing to a repeatable process and building installation into the early sales and engineering phases of the Alpha discussions, which is helping us immensely,” he said.
He added that the implementation process within Alpha is also becoming more efficient, with the onboarding process faster than it has been in the past.
The growth is also supported by the growing trend of outsourcing: “It’s a competitive marketplace. When you look at where the business is going and who’s gaining share, it’s one of these very interesting markets where there’s some third-party players but you’re also competing with the insourced option,” he said. “There’s still a fair amount that’s insourced that’s probably not viable over time, which will remain a source of growth. Competition is good.”