DST International (DSTi), a business solutions provider for the investment management industry, has announced that Australian Unity Investments (AUI), a funds management service provider, has selected DSTi to provide its front- and middle-office solutions, to create a system which is expected to assist fund managers with their investment administration.
According to the firm, the solutions chosen by AUI cover modelling, dealing, pre- and post-trade compliance, performance attribution and measurement, unit pricing, and client reporting.
"The business required a solution that would meet its current investment administration needs and could also be tailored to support its future needs, including the requirements of AUI's joint venture partners," says Mark Pratt, chief operating officer, AUI. "Our product range and funds under management have expanded over the past two years, and we are ensuring that we have the processes and systems in place to continue to achieve managed and sustainable growth in the future," he continues.
"For example, the new solutions will enable us to produce reporting for managed discretionary accounts and self-managed accounts, and we see this as a service that will be increasingly important for boutique fund managers over time. This will help us to continue to manage risk via enhanced controls in a way that allows our portfolio managers to concentrate on what they do best; managing money," explains Pratt.
The company states that the new solutions from DSTi are expected to allow AUI to automate a number of manual activities, enabling the business to further streamline business processes and increase the consistency of its internal analysis. The enhanced controls that the DSTi solutions are designed to provide include greater transparency of unit pricing validation and the automation of pre and post-trade compliance.
"We are pleased to welcome AUI on board as a new client," says Mr Ian Mathieson, CEO, DSTi, Australia and New Zealand. "We believe that the front- and middle-office solutions tailored for AUI will help facilitate a greater level of control and minimise risk," he comments.