Waters Rankings 2014: Best Accounting System Provider — Multifonds

Luxembourg has developed a banking industry whose scope goes well beyond its modest population of little more than half a million people. Its success can be traced in part to cross-border fund administration serving many European markets, a sector for which Luxembourg has become well known. It is appropriate that when Waters created a category in its Waters Rankings awards to recognize the industry’s best accounting system provider, that award would go to a Luxembourg company.

Multifonds’ pitch is that it manages the Accounting Book of Record (ABOR) and Investment Book of Record (IBOR) on a single accounting platform. It supports portfolio accounting, fund accounting and investor servicing, and handles all major asset classes and fund types—including exchange-traded funds and liquid alternatives—in that same single piece of technology. Its relational database architecture and user-defined parameters mean it can be configured quickly to support a wide variety of products and country-specific requirements.

The Workflow and Exception Manager provides a strict control environment to manage workflows and address exceptions in real time with visual executive dashboards and operational key performance indicators to deliver efficiency improvements.

“As a single platform company, all of our resources, attention and investment are dedicated to the continuous improvement of our software in meeting the evolving needs of our clients,” says Oded Weiss, CEO of Multifonds. “We are fully committed to supporting these global clients as they seek to grow their businesses, increase their operational efficiency, and win new client mandates in today’s challenging industry environment.”

Multifonds caters to a client base that is facing significant new regulation, including the Alternative Investment Fund Managers Directive (AIFMD) in Europe, and a convergence of alternative and mutual funds. Customers include Citi, BNP Paribas, Standard Chartered, Credit Suisse, HSBC, and Brown Brothers Harriman. More than $5 trillion in assets in more than 20,000 funds are processed on the platform across custodians, third-party administrators, insurance companies and asset managers.

Last year, Multifonds opened an office in Canada, taking the company’s presence regionally to three offices and globally to 13. Overall, it serves more than 30 global jurisdictions in North America, Europe, and Asia.

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