Schroders implements faster Nav calculations
Schroder Investment Management (Luxembourg) has implemented a solution from Milestone Group that automates daily Nav validation of some 1,400 prices in a 45 minute timeframe.
Milestone Group’s pControl platform is used to implement the solution, which replaces a previous system involving manual checks, including receiving and entering files into spreadhseets.
The data processing needs to assure both clients and regulators in different jurisdictions.
Gary Janaway, operations director at Schroders, said: “It is increasingly important to carry out oversight functions in a more effective and efficient manner. We recognised the need to have a solution in place that both complemented our proprietary system, and enabled us to focus on managing business challenges, rather than just running laborious checks. The implementation went well, and since the deployment, pControl has provided us with a one stop shop for the validation of fund price data, meaning that our staff can now focus on managing exceptions, instead of crunching data.”