pControl leads way with NAV automation and transparency - Citi live with NAV Control solution

London, Boston, Sydney - 7 January 2011

Milestone Group today announced that Citi Global Transaction Services, a business line of Citigroup Corporate and Investment Bank, is now in production with its pControl fund processing platform providing NAV validations and control with fully integrated workflow capabilities.

pControl is a leading funds automation platform that allows clients to streamline a range of fund operations and processes that to date have proved difficult to automate to achieve increased efficiency, control and transparency.

Citi has initially implemented pControl‟s NAV Control solution in Europe to automate a range of fund specific functions including, data consistency checks, asset level validations, market data validations, NAV price validations and rich security level NAV movement analysis. pControl also undertakes leading edge „fund versus benchmark‟ analysis and provides authorisation control over the release of NAV‟s to downstream systems.

Milestone Group‟s global product head, Phil Davies said “we are always looking for ways to help clients to achieve global best practice efficiency, control and product flexibility. pControl represents a step change in how the industry will come to view automation and service delivery around NAV production and related controls, and is a key part of our global strategy to assist in reducing industry cost structure.
“Clients want to know that they can take advantage of a wide range of standard market validations (more than 150), while having the flexibility to add custom validations where required.”

pControl is a modern and innovative fund processing architecture designed specifically to deal with emerging product and process challenges in the investment industry. It can support automation of a wide range of fund related processing and has particular strengths around interfunded product structures. pControl can support local or global deployment models and is time zone aware which is critical for „follow the sun‟ processing initiatives.

Full end-to-end lifecycle management of the NAV process is able to be achieved as pControl can integrate with a range of upstream and downstream systems including centralised market data, fund accounting applications, and the like.

Clients are now able to oversee the progress and status of the end to end process via consolidated dashboard views, and can drill through to underlying detail providing unprecedented transparency and service support.

Milestone Group CEO, Geoff Hodge said “pControl does bring a new dimension to fund processing that enables organisations to meet increasing service quality and timeliness demands, while providing access to very significant gains in efficiency, agility and business scalability.

The industry often talks about helping to reduce investment industry costs. pControl‟s standard operating process and fund pricing checks dramatically reduce effort and cost often associated with re-engineering the process of validating and distributing NAVs. The result is a more efficient process, elimination of paper, automation of the fund and NAV validation process and provision of unrivalled NAV movement analysis and reporting.

NAV checking and automation is an area of increased industry focus and we are delighted that Citi have deployed pControl in this key area.”

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