Linedata Services (LIN.FP) today announced that ATC Fund Services, a subsidiary of The ATC Group of the Netherlands, has adopted its combined transfer agency and partnership accounting solution.
ATC Fund Services ("ATC"), a third-party administrator based on the island of Curaçao, is adding Linedata Services' integrated platform made up of MShare, a transfer agency system, and MPartner, a robust, yet easy to use partnership accounting solution.
ATC adopted the platform as it continues to grow its assets under administration in the hedge fund industry. The integrated platform of MShare and MPartner is the only combined solution in the market; it provides a single point of entry for users, eliminating the time consuming, precarious, manual process of extracting and posting data across different systems.
ATC was already using Linedata Services' MFact, a global fund accounting solution, to manage funds with more than $8.5 billion under management, and the firm said it has ported MFact to its office in Hong Kong to handle fund administration business for Asia Pacific.
"We didn't want to be bothered by the heavy lifting required in reposting between systems, and the risks entailed by manual re-keying of data," said Robert Chin, CEO of ATC Fund Services. "Linedata Services' integrated MShare / MPartner solution is the only solution that provides a single-point of entry. That, and our long history with Linedata Services, made it the obvious choice for ATC."
"We are pleased to be expanding our relationship with ATC, building on a great relationship that has been in place since 2003," said Peter Muldoon, Executive Vice President at Linedata Services, Hackensack. "ATC has become a full-service administrator over the last five years, and we are proud to have helped in the growth and diversification of this great firm."