54 businesslife.co November/December 2014

AdvertIsINg feAture

TeChnOLOgy iS AS integral to financial services as wings are to planes – you can have one without the other, but only if you’re planning on standing still while others speed past. the ability of financial software to deliver measurable differences is massive

and continuously evolving, which is why fund administrator Moore works hard to ensure the technology it chooses is the best available to deliver what its clients want. And this is happening across its entire funds base as the industry enjoys a strong period of growth.

One area in which the Moore team has seen demand rise for its services is that of private equity (Pe). in recent years the asset class has gone from strength to strength with global sentiment in the markets rising steadily, with over €54bn raised in european Pe funds during 2013. the legacy of the financial crisis may not be entirely forgotten, but this return to favour with investors has cemented the industry as a viable alternative to traditional retail funds.

With it, the demand for fund services is thriving, particularly in offshore jurisdictions where advantageous tax regimes and a proven track record of expertise offer an attractive environment from which fund managers can benefit.

Offshore fund administration can involve the provision of many different services, including: acting as company secretary; cash and treasury management; providing registered offices and directorships; acting as custodian; and offering compliance services and accountancy (including the preparation of audited financial statements) for funds and fund managers from around the world.

Providers are also taking advantage of opportunities to offer a broader scope of services as the introduction of international regulation and legislative changes take effect. it’s a niche yet lucrative business, if managed well.

And it’s fair to say business is booming. the Jersey Funds Association recently announced that there is over £200bn in funds

November/December 2014 businesslife.co 55

About mooremoore management is a provider of independent fund services

for institutional and corporate clients, ranging from major

investment banks to boutique alternative asset managers

located in the major financial centres.

in january 2013, first names group, a trust and corporate

services provider, acquired our business and integrated its

entire fund administration offering under the moore brand.

for more information about the services we provide

and how they could benefit you, please contact jon trigg at

jon.trigg@mooregroupltd.com or visit mooremanagement.com

Moore Management is regulated by the Jersey Financial Services

Commission.

under administration in the island. this is up £5bn in the previous quarter alone, and shows a return to previous form.

The right stuff this increase in the volume of funds under administration in Jersey is in no small part due to advancements in the technology and software available to administrators. indeed, technology forms the backbone for the provision and management of all funds services. Complete integrated platforms with advanced reporting capabilities, which suit cross-jurisdictional structures, for instance, have had a dramatic impact on the competition, improving the quality of services provided to investment managers and investors within this challenging marketplace.

the efficiencies created by database systems such as eFront’s Frontinvest and Sunguard’s investran have made them the two largest players in this space. they provide a complete solution for administrators and managers and offer a level of comfort to regulators and managers looking for a trusted provider.

these systems are capable of performing full partnership accounting – from complex allocation methods and inter-company dealing, to process management through workflows and internal controls to ensure procedures are maintained. they also relieve the regulatory burden of directives such as FAtCA and AiFMD, which can be costly and time-consuming if dealt with separately or outsourced.

Another leap forward has been the level of reporting that is now available. Custom-built reporting modules and data warehousing features allow for financial and non-financial data to be extracted easily and turned into valuable information for investors and regulators alike. Automated capital statements, detailed portfolio analysis and complete valuation histories can be produced at the touch of a button, reducing complexity and improving efficiency.

it is for these and numerous other reasons that Moore has chosen to use these systems – as they deliver operating efficiencies and advantages that translate into clear benefits for our clients. however, this is not simply an ‘off-the-shelf ’ solution.

delivering resultsAs a practical example, robert Palazzini, Moore’s in-house systems specialist, is able to use these systems to create complex reports and extract any information that a client may need. his depth of experience means clients don’t have to wait for messages to be relayed to and from the software developers before taking action – he can adapt systems and create in-depth reports as required.

the Moore team has a strong relationship with the developers at software company eFront, and the constant communication between the two teams allows them to work together to find solutions as soon as a problem arises.

the speed at which technology is advancing can’t be overestimated, and the latest cutting-edge software solutions provided by eFront demonstrate how far they have progressed since their original solution first rolled out to Jersey providers six years ago. the most recent upgrade to eFront is a big step-up from the previous version. One of Moore’s biggest clients, a large Pe house, has already benefited from the upgrade, with all their information now accessible from one touchpoint rather than the several disparate systems used previously. it’s the ideal set-up from both a risk management and an efficiency perspective.

Some fund administrators customise programmes from the main developers, but there’s a danger that important software upgrades

AT ThE FronTLInE oF

“A specially tailored report created recently for one client has cut a procedure that took hours each month down to just a few seconds”and patches are skipped or delayed. instead, Moore uses the ‘vanilla’ product and the team writes the reports outside of this, thus ensuring clients always benefit from the very latest software while still receiving quality, bespoke reports. As another example of the benefits this brings, a specially tailored report created recently for one client has cut a procedure that took hours each month down to just a few seconds.

Online portals are another new technology that’s been embraced by the industry. investor servicing systems such as investment Café from eFront – which is used by Moore – offer investors the ability to easily access their portfolio information, track all correspondence and legal documentation and improve communication channels with the administrators, strengthening relationships and keeping them up to date with prospective deals and any upcoming activity.

that Moore is at the frontline in the use of funds technology was made clear recently when it was chosen as the fund administrator for global Advisors bitcoin investment Fund, the world’s first fully regulated bitcoin expert fund [for more on this, see our interview on page 28]. An innovative and tailored solution was needed to overcome the significant technological and regulatory challenges faced in making this unique fund a reality, and it was something that Moore’s highly experienced team relished delivering.

Administrators need to be constantly innovating to anticipate customers’ needs and exceed their expectations. these new services are yet another example of Moore understanding that while anyone can offer off-the-shelf software, to offer clever, game-changing solutions requires in-depth knowledge, boundless creativity and a desire to be leading the advance in financial technology. n

JOn TrIGG is Head of european Fund Services at Moore Management

fUnds TeChnoloGy using the right technology can streamline processes and deliver efficiencies, but turning that into bespoke solutions is where the real advantage lies, as Jon Trigg at Moore Management explains