Cavendish was previously using proprietary tools for its portfolio administration and separate systems for fund accounting and wanted to migrate to a more sophisticated solution. Following the development of a controlled growth strategy, Cavendish identified specific business requirements which necessitated a single, comprehensive system which could address these needs and extend Cavendishâs service offering to existing clients.
âLinedata led a workshop with us to explore, map and evaluate our existing systems and processes,â said Anthony Lee, Director, Cavendish Administration. âThis new system is comprehensive and can fully support our ambitious growth plan and significantly improve our capabilities along the way. We believe that Linedata Icon will enable us to build upon the excellent level of service that we currently provide to investment management companies and the funds they manage.â
Key to the decision making process was choosing a firm that offered a cutting edge and credible solution. In Linedata Icon, Cavendish found a system which could offer robust client reporting and portfolio valuation capabilities and which had a track record of meeting and exceeding client needs. With 45 clients in the UK and beyond, Linedata Icon is a complete back office investment management, fund accounting, portfolio valuation, collective fund pricing and reporting solution which has been subject to a recent programme of innovation and development to meet market expectations and regulatory demands.
âFund administrators need to be able to deliver a streamlined, first class service in todayâs environment. Their clients are extremely demanding and expect the best,â said Mike de Verteuil, Linedataâs Group Business Development Director. âWe have invested in Linedata Icon to ensure it delivers the flexibility needed and efficiently handles the complexities which characterise todayâs fund administration market. By using Linedata Icon, Cavendish will be able to extend its service offering to a greater number of funds and meet their clientsâ exacting due diligence requirements. Weâre proud to be supporting Cavendishâs growth in this area.â