Linedata, the global solutions provider dedicated to the investment management and credit industry, today announced that Cavendish Administration Ltd will use Linedata Icon to build a fully integrated portfolio administration, fund accounting and reporting solution for its operations.
With over £1 billion of assets under administration, Cavendish is implementing Linedata Icon to be able to expand its business, service more funds and extend its service offering.
Cavendish was previously using proprietary tools for its portfolio administration and separate systems for fund accounting and wanted to migrate to a more sophisticated solution. Following the development of a controlled growth strategy, Cavendish identified specific business requirements which necessitated a single, comprehensive system which could address these needs and extend Cavendish's service offering to existing clients.
"Linedata led a workshop with us to explore, map and evaluate our existing systems and processes," said Anthony Lee, Director, Cavendish Administration. "This new system is comprehensive and can fully support our ambitious growth plan and significantly improve our capabilities along the way. We believe that Linedata Icon will enable us to build upon the excellent level of service that we currently provide to investment management companies and the funds they manage."
Key to the decision making process was choosing a firm that offered a cutting edge and credible solution. In Linedata Icon, Cavendish found a system which could offer robust client reporting and portfolio valuation capabilities and which had a track record of meeting and exceeding client needs. With 45 clients in the UK and beyond, Linedata Icon is a complete back office investment management, fund accounting, portfolio valuation, collective fund pricing and reporting solution which has been subject to a recent programme of innovation and development to meet market expectations and regulatory demands.
"Fund administrators need to be able to deliver a streamlined, first class service in today's environment. Their clients are extremely demanding and expect the best," said Mike de Verteuil, Linedata's Group Business Development Director. "We have invested in Linedata Icon to ensure it delivers the flexibility needed and efficiently handles the complexities which characterise today's fund administration market. By using Linedata Icon, Cavendish will be able to extend its service offering to a greater number of funds and meet their clients' exacting due diligence requirements. We're proud to be supporting Cavendish's growth in this area."