60% of fund managers experience NAV issues – Milestone Group

Technology provider Milestone Group has found out in a UK-focused survey that 60% of fund managers have experienced net asset value (NAV) issues since the FCA conducted a thematic review on UK managers’ oversight systems in 2013.

Oversight refers to the outsourcing of fund processing and accounting activities by fund managers while maintaining independent in-house checks of service providers’ outputs.

Milestone Group explained that NAV issues were identified in a timely fashion by fund managers with clear oversight systems. The technology provider’s research also shows that 40% of fund managers have enhanced their oversight processes or systems in the last 12 months while 40% plan to review their oversight processes or systems in the coming year.

Also 40% of the fund managers surveyed have reviewed processes over the past 12 months, putting forward corporate activity and third party administration moves as two of the key reasons for reviewing oversight processes.

“There was a buzz of interest in oversight post the thematic review in 2013, and today there is a new wave returning, focusing on the technology capabilities of oversight systems,” commented Paul Roberts, managing director, EMEA at Milestone Group.

“Increasing corporate activity with a number of mid-tier managers coming together to form top tier businesses is having a heightened impact on oversight processes and systems too,” he added.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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