Woodfield Fund Administration, an independent, third-party fund administrator, has chosen Smonik RECON to support the portfolio reconciliation needs of their investment management clients.
Smonik Investment Systems is a back-office solutions provider for investment managers.
The mandate, said a release, was due to the trend of investment managers increasingly broadening their strategies across regions and asset classes in pursuit of greater returns.
RECON aims to improve operational efficiency by automating the retrieval of data from prime brokers, custodians and administrators.
“Today’s market environment requires that investment managers have the flexibility to adjust their strategies as new opportunities arise,” said Frank Franiak, president and CEO of Woodfield Fund Administration.
“Our clients look to us to ensure that their middle- and back-office systems and workflow processes are just as nimble. By leveraging Smonik RECON, we are able to easily tailor our reconciliation services to support the individual needs of out our broad and dynamic client base."
"RECON’s easy to use interface reduces the time to make adjustments to reconciliation platform allowing us to focus our efforts on serving all our clients’ needs.”
