Schroders restructures fee-billing and revenue admin

Schroders restructures fee-billing and revenue admin

Schroder Investment Management has restructured its fee-billing and revenue administration system using software from Interactive Technologies.

The implementation of the system - which went live in the first quarter - was overseen by a combined team from Schroders, Interactive Technologies and Citisoft Consulting.

Interactive's Advantage Fee System is being used to calculate fees for all of Schroders' portfolios in London and New York and to automate the calculation of monthly accruals. The software is interfaced with the Eagle Pace investment database and portfolio management system for the delivery of valuations data and reporting of management fees.

Marc Nield, executive director, institutional IT at Schroders says the new system standardises the format of invoices and greatly increases the level of detail on fee calculation - improving transparency for the client.

"Advantage is also giving us much more accurate and effective management information on Schroders' revenue streams," he says. "We are now looking very closely at the possibility of using Advantage Fee System in all of Schroders' overseas offices."

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