South African fund administrator Curo Fund Services takes pControl for multi-manager and life clients

London - 25 March 2013

Automation will provide more efficient administration service to maturing market

Milestone Group, the specialist provider of optimised fund processing solutions to the global funds industry, announced today that South African fund administrator Curo Fund Services (Curo), has selected its pControl platform to service multi-manager and life clients.

Increasing sophistication within the funds industry in South Africa is prompting multi-managers and life companies to seek greater efficiencies in their operations. pControl removes manual processes, meaning Curo can offer its clients enhanced service levels, replacing bespoke systems and processes currently used to perform specific functions.

Using pControl, Curo will be able to offer a superior, more efficient administration service across a number of complex processes including NAV / unit pricing, cash allocation and rebalancing, unitised order management and income distribution. Curo will also leverage pControl’s integrated reconciliation, accounting and data manager capabilities, delivering process transparency and audit trail across the board for multi-manager and life clients.

“Efficiency, value and transparency are the most important things to us and our clients”, said Hank Pienaar, Managing Director of Curo. “As the funds industry in South Africa matures, it becomes increasingly important to deliver on all these fronts. This is a significant step for Curo, with pControl’s inherent flexibility providing a solid platform for enhanced automation across the business.”

Paul Roberts, Managing Director EMEA of Milestone Group said, “South Africa is an increasingly active market for Milestone Group, and pControl’s ability to solve multiple business challenges on one fund-centric platform is attracting increased attention. It is a compelling option for organisations seeking greater control coupled with greater efficiency. We welcome the opportunity to work closely with Curo.”

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