The MSC Group has launched a new fund administration platform, MSC Abacus.
The new fund administration service will provide fund registry, reporting and accounting for capital managers.
It will operate in support of but independently of the group’s corporate trust business, MSC Trustees.
As part of the expansion, Priya Sharma has been hired as general manager.
Matthew Fletcher, managing director of MSC Group, said: “In launching MSC Abacus, we are seeking to address a broader market need for high-quality administration services that provide ultimate flexibility for clients, no matter how their capital is structured or the level of transaction activity.”
Fletcher explained that the Australian fund administration space has “experienced consolidation in favour of fewer, generally global firms, often utilising resources outside of Australia. This had not always led to responsive, flexible, administration support”.
