OppenheimerFunds has selected Milestone Group’s NAV oversight solution to automate in-house verification of outsourced fund processing functions.
Geoff Hodge, CEO of Milestone Group, said: “We have created a purpose-built automated solution that provides transparent, timely review of the end-to-end process. We’re delighted to be working with an organisation of OppenheimerFunds’ reputation and caliber, and look forward to developing the relationship with them over the coming months.”
The solution aims to allow OppenheimerFunds to have a tailored view into the NAV calculation process without replicating their third party service provider activities.
NAV Oversight provides a fully hosted environment to monitor holdings at both fund and security level and independently validates NAVs received from outsourced fund administrators, said a statement from the firm.
