T Rowe Price contracts with Linedata for NAV oversight

Source: Linedata

Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that Linedata has been selected by T. Rowe Price, a premier global investment manager, to deliver comprehensive oversight to enhance T. Rowe Price’s Net Asset Value (NAV) across its extensive range of investment offerings.

Growing complexity and regulatory change in today’s financial markets are increasing the need for asset managers to seek robust, automated solutions for oversight of externally generated NAVs. T. Rowe Price’s current oversight processes and expertise will be further enhanced by sophisticated automated controls that systematically highlight exceptions and are scalable as its business evolves.

Linedata Navquest offers oversight, validation, testing and contingency for the full range of middle office and fund accounting functions, developed from more than 70 customizable controls, using a client’s own rules. Linedata Navquest also has the ability to highlight the specific NAV component which may be responsible for a discrepancy, supporting remediation.

T. Rowe Price joins a growing community of leading investment managers that are enhancing their approach to fund oversight and transparency. Cathy Mathews, Treasurer of the T. Rowe Price Funds, said, “NAV Accuracy is of paramount importance. Selection of Linedata Navquest reflects our commitment to provide accurate NAVs to our customers by implementing an automated, scalable tool that will allow us to target risks and continuously refine our oversight processes.”

Arnaud Allmang, North America Head of Asset Management at Linedata, noted, “Linedata Navquest is in demand by leading mutual fund managers because its robust, scalable and highly configurable technology and tools for middle office and fund accounting oversight are designed to flexibly solve the challenges of NAV control that today’s complex investment firms must navigate.”
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