Vista Fund Services has chosen Linedata’s Admin Edge platform to run its fund administration services in Gibraltar.
The mandate comes as a response to a growing fund and investor base, plus a need to adapt to new regulations, particularly the alternative investment fund managers directive. This has led to Vista moving away from an in-house system to one created by specialists.
Following a selection process including software demonstrations, Linedata was selected because it is scalable and configurable, and can address a variety of types types.
Craig Wilson, finance director at Vista, said: “We chose Linedata Admin Edge because we can configure it exactly to meet our needs, and because it offers us the cost-effective scalability we require as our business grows.”
“It will help us automate and streamline our processes, producing efficiency gains and further reducing operational risk. Additionally, we manage a diverse client base with fund strategies covering private equity, real estate, complex derivatives and, of course, more plain vanilla type instruments. Linedata Admin Edge will enable us to administer all of these on a single platform.”
The mandate could also help in automating the production of net asset values (NAVs).
Wilson added: “Increasingly our clients are looking for more frequent valuations and we believe the efficiencies we will gain through automation are considerable, and will allow us to meet our clients’ expectations with significant time savings – time which we can use to look after our current clients and to on-board new ones.”
Thierry Soret, head of back-office asset management at Linedata, said: “[Vista] can make the most of the platform’s real strengths in addressing complex fund structures and multiple instruments whilst enjoying a streamlined, integrated fund accounting and transfer agency solution which will grow as they do.”
“This makes it a functionally rich yet cost-effective choice, backed by Linedata’s commitment to invest in its back-office products to ensure that they meet clients’ expectations, in terms of automation, functionality, scalability, regulatory updates and new instrument coverage.”
