Guggenheim Partners automates NAV processing with Milestone Group

Milestone Group's NAV Control solution provides extremely robust quality assurance around the NAV accounting function by eliminating the use of spreadsheets and manual processes. Instead, pControl aggregates and manages multiple data sources and formats, performs validations of NAVs and presents this in a single dashboard. This provides managers with a consolidated view across funds at any point in time.

"We are committed to investment excellence and aim to reduce operational, and specifically spreadsheet risk throughout our business," says Mike Scalzi, Head of Investment Valuation at Guggenheim Investments. "We required a cutting-edge fund administration solution and Milestone Group's pControl stood out for its modular architecture, intuitive user interface and flexible management dashboard. The end-to-end automation that pControl brings to our NAV processing means we will achieve a significant improvement from an efficiency standpoint, while its rules-based intelligence allows us to spend more time researching and resolving exceptions rather than having to identify them manually. It also means we can continue to reduce costs while reducing our error ratio."

pControl's sophisticated exception management is based on its embedded rules engine and process management capabilities. It comes with out-of-the-box logic for NAV validations and controls, as well as simple templates that provide the flexibility to build and implement new rules without the need for costly customisations. This delivers more efficient allocation of resource, faster resolution of exceptions and greater control. The underlying pControl platform also delivers a full audit trail of all NAV price production activity, together with rich client and SLA reporting capabilities.

"pControl enables users to target specific efficiency, service level and operational risk management enhancements across the fund processing value chain in a highly flexible, scalable and transparent environment," says Geoff Hodge, CEO, Milestone Group. "It provides true end-to-end automation and can replace daily tasks, checks and controls that clients would otherwise perform manually or in a semi-automated way. We welcome the opportunity to work closely with Guggenheim Investments and look forward to supporting their goal of reducing operational risk in their business."