05 April 2017
Reporter: Stephanie Palmer

Jupiter chooses Milestone for NAV oversight

Jupiter Asset Management has selected Milestone Group’s pControl Oversight solution to provide automated collection of fund valuation data and verification of daily net asset value (NAV) prices.

The solution provides oversight for Jupiter’s unit trusts, variable capital open-ended collective investment funds and investment trusts in the UK and Luxembourg.

It is designed to reduce manual validations and provide scalability for NAV verification, within the necessary operational timeframes.

Andy King, supplier relationships director at Jupiter, said: “With the phenomenal growth in our fund range in the last few years, we realised it was time to review our manual approach to oversight.”

“Installing pControl Oversight has enabled us to automate all of the heavy lifting and standardise our validation approach, meaning we can now execute our NAV testing in a more robust and timely manner.”

Paul Roberts, managing director of Milestone Group in Europe, the Middle East and Africa, added: “Increasing regulatory pressure is causing asset managers to look for a fully automated oversight solution that can offer certainty around this key function.”

“With Jupiter, the deployment accommodated the additional challenge of a third-party service provider migration, providing continuity of a strong control environment. pControl Oversight provides Jupiter with a high level of assurance over NAV accuracy, as well as the option of deploying a backup or contingency NAV should that requirement arise in the future.”

More data services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Vela launches new data hub
15 November 2017 | London | Reporter: Jenna Lomax
The new data hub will provide clients with access to multiple systematic internaliser liquidity price feeds through a single application programming interface
Opus partners with Fenergo on KYC
10 November 2017 | New York | Reporter: Jenna Lomax
The two firms will offer integration of risk relevant data into know-your-customer processes
BNP Paribas partners with Janus Henderson
09 November 2017 | Denver | Reporter: Jenna Lomax
This partnership is intended to provide a global platform to support to Janus Henderson’s regulatory and industry issues in order to help the firm grow internationally
SmartStream upgrades TLM solutions platform
16 October 2017 | London | Reporter: Theo Andrew
A new feature, TLM View allows customers to access to real-time and historic data in the reconciliation repository in order to identify trends on one single, customisable interface
Scorpeo reveals new TCA application
12 October 2017 | London | Reporter: Barney Dixon
Scorpeo has launched its new TCA application that will help investment managers identify missed value in their portfolios
Swift releases data validation service
05 October 2017 | Barcelona | Reporter: Jenna Lomax
The service assesses the quality of the bank reference data stored in a corporate’s database, which is typically used to facilitate payments
US equity data made more accessible to UK firms
23 August 2017 | London | Reporter: Stephanie Palmer
Nasdaq is to offer market data on proprietary US equity feeds via the Equinox London International Business Exchange data centre, LD4
More data services news