Fund administration provider Phoenix American has partnered with its client Modiv, a real estate, fintech and proptech asset manager, as part of its plans to push the alternatives industry forward with technical innovation and customised solutions.
Phoenix American will support Modiv with its transfer agent system STAR-XMS and its investor services platform with customisations to accommodate the fintech’s crowdfunding approach to product distribution.
Phoenix American’s STAR-XMS transfer agent system operates as the back-end investor database to Modiv’s electronic front-end system.
STAR-XMS, which integrates and streamlines all back-office functions for alternative funds, was developed from Phoenix American’s experience as a fund sponsor and a third-party administrator for alternative investments.
Modiv’s use of STAR-XMS enhances back-office efficiency and broadens the company’s connectivity with participants throughout the financial industry landscape.
Andrew Constantin, senior vice president for operations at Phoenix American, explains: “Modiv is a great partner for Phoenix American. We are committed to pushing the alternatives industry forward with technical innovation and customised solutions with an investor focus.”
Constantin adds: “Straight-through processing from Modiv’s online investment platform to Phoenix American’s investor services platform raises the bar for overall investor experience in the alternative space.”
Elsewhere, BNY Mellon has been appointed by Invesco Fund Management and Invesco Management to provide transfer agency services to $100 billion of their respective ICVC and SICAV fund ranges.
To learn more about transfer agency services look out for issue 267 of Asset Servicing Times which goes live on 9 June.
