Leading South African wealth management house STANLIB, today announced that it will replace its existing unit pricing and related internal applications with Milestone Group's pControl fund processing platform.
STANLIB have selected pControl to undertake a range of fund processing functions including Unit Pricing, Price Validations and Asset Level Validations. pControl is the market leading unit pricing platform and is globally recognised for its ability to handle complex fund structures and for its support of rich asset level price movement attribution. STANLIB have also licensed pControl’s reconciliations capability which is able to support complex reconciliations and is an integrated component of the pControl solution.
Mr Shawn Smith, STANLIB’s CIO stated “we selected pControl after an analysis of each of the market leading solutions and having undertaken market research on pControl and Milestone Group. We were impressed by the global applicability and highly configurable nature of pControl and the ability to support integrated end-to-end business processing.”
Karin Coetzer, Head of Institutional Operations at STANLIB, added that “pControl is key to achieving our ongoing objectives in terms of efficiency and management of operational risk. We also see pControl as providing us with a level of agility that will support our business into the future.”
pControl is a single integrated application platform that represents a breakthrough in true end-to-end processing for fund managers, life companies, fund of fund providers and administrators. In addition to market leading business functionality, pControl incorporates fully integrated process control and visualisation capabilities delivering superior operational efficiency, control and business agility.
Milestone Group CEO, Geoff Hodge said “We are very pleased to welcome STANLIB as our first client in South Africa and look forward to assisting them to achieve their business objectives through the use of our pControl fund processing solution.”
pControl is increasingly recognised as the production platform of choice for fund processing functions and is utilised by leading market players in 7 countries across Australasia, South Africa, Europe and North America.