Credit Union Fund Management Company Ltd (CUFMC) will use Pacific Fund Systems’ (PFS) fund administration software, PFS-PAXUS, to support the end-to-end administration of its open and closed ended traditional alternative investment vehicles.
PFS-PAXUS offers a complete back-office fund accounting, portfolio valuation, fund pricing and transfer agency administrative solution on a single, fully integrated system.
Incorporated in 2005 as the wealth and asset management arm of the Credit Union Movement in Jamaica, the CUFMC has evolved into the Credit Union’s financial services arm and provides investment products and wealth management opportunities to co-operatives and corporate entities.
The CUFMC is licensed by the Financial Services Commission as a securities dealer, pension fund manager and pension fund administrator.
Paul Kneen, CEO of PFS, commented: “PFS was incorporated nearly 20 years ago with one objective in mind; to build an all-encompassing, dedicated fund administration solution that would form the backbone of any fund administration service providers’ business.”
He added: “We believe there is currently no better multi-functional market wide product that can compete head on with PFS-PAXUS, as a total, single fund administration solution that integrates fund accounting, investment accounting, shareholder services and a full suite of reporting at an extremely competitive price point.”
“We are delighted to welcome CUFMC as a client. We look forward to working with their team to help them to automate the ever increasing regulatory and market demands of a continually evolving funds industry.”
