Milestone signs QIC to fund processing platform

Source: Milestone Group

QIC today announced that it will replace its in-house core funds systems with Milestone Group's pControl fund processing platform Leading investment house, QIC will replace its in-house systems with pControl as an integrated platform to undertake a range of business functions in support of its investment products and institutional clients.

pControl is the market leading unit pricing platform and is globally recognised for its ability to handle complex fund structures and for its support of rich asset level price movement attribution.

QIC will take advantage of a broad range of pControl functionality including unit pricing and validations, cash allocation, unitised order management as well as related accounting, tax processing and reconciliations.

Darren Mundie, General Manager Operations, QIC said, "With over $80 billion under wholesale management across a broad range of unique investment solutions , we want to make sure that we have the best available technology that can
cope with our business complexity and future needs. pControl was chosen after an extensive review and was the only solution that we felt could easily deal with our full set of requirements and integrate seamlessly with our custody model.
The configurable nature of pControl supports our customisation requirements while minimising implementation effort and ongoing support. We are looking forward to a long partnership with Milestone Group that will enable us to continue our growth with the confidence that we have scalable and robust infrastructure under the business."

pControl is a single integrated application platform that represents a breakthrough in true end-to-end processing for fund managers, life companies and administrators. In addition to market leading business functionality, pControl incorporates fully integrated process control capabilities delivering superior operational efficiency, control and business agility.

Milestone Group CEO, Geoff Hodge said "We are delighted to have the opportunity to service QIC, widely recognised for its investment solutions and innovation. Significantly, QIC will deploy our extended investor account keeping (wholesale registry) capability as part of the roll out in addition to the core fund processing suite."

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