Vista Fund Services (Vista) has selected Linedata Admin Edge to run all its fund administration services in Gibraltar as demand for its specialist services grows.
With business expanding, Vista decided to move away from its in-house system to one designed and supported by investment software specialists. This move was prompted by a growing fund and investor base and the need to adapt to new regulatory regimes, particularly AIFMD.
Craig Wilson (pictured), Finance Director at Vista, says: “We are a specialist administrator offering a range of services; from assisting start-up managers wanting to launch a new fund to the administration of larger funds for more established clients. We want to focus our resources on our clients and our core business and leave the software development to the experts.”
The selection process included demonstrations of several software solutions, and Vista says its selected Linedata Admin Edge for its scalaility, configurability and ability to address a variety of fund types.
Wilson says:: “We chose Linedata Admin Edge because we can configure it exactly to meet our needs, and because it offers us the cost-effective scalability we require as our business grows. It will help us automate and streamline our processes, producing efficiency gains and further reducing operational risk. Additionally, we manage a diverse client base with fund strategies covering private equity, real estate, complex derivatives and, of course, more plain vanilla type instruments. Linedata Admin Edge will enable us to administer all of these on a single platform.”
One specific area where Vista hopes to benefit from Linedata Admin Edge is in automating the production of NAVs.
Wilson says: “Increasingly our clients are looking for more frequent valuations and we believe the efficiencies we will gain through automation are considerable, and will allow us to meet our clients’ expectations with significant time savings – time which we can use to look after our current clients and to on-board new ones.”
“Vista Fund Services is, in many ways, an ideal client for Linedata Admin Edge,” says Thierry Soret, Head of Back Office Asset Management at Linedata. “They can make the most of the platform’s real strengths in addressing complex fund structures and multiple instruments whilst enjoying a streamlined, integrated fund accounting and transfer agency solution which will grow as they do. This makes it a functionally rich yet cost-effective choice, backed by Linedata’s commitment to invest in its Back Office products to ensure that they meet clients’ expectations, in terms of automation, functionality, scalability, regulatory updates and new instrument coverage.”