Paris-based Meeschaert Asset Management has selected Linedata to implement a front-office platform in the expectation of growing itsassets under management (AuM) from institutional investors.
According to Linedata, a French software and services firm, the Linedata Front Office Platform will help Meeschaert integrate front and middle-office controls, including compliance, reconciliation, risk management and valuation.
Philippe Troesch, chief executive of Meeschaert, says trade support and fund accounting have been outsourced to third-party administrators, but the firm retains compliance, risk management and net asset value (NAV) oversight of portfolios because the management company retains responsibility in the case of investment breaches or NAV errors.
The compliance engine and NAV procedures of the Linedata system have simplified the implementation of controls over numerous funds, including those with intricate investment restrictions, Troesch adds.
"We expect our assets under management to grow significantly, in particular in the institutional investors' segment, and in this context we have been looking to implement a robust and proven solution," he says.
Meeschaert currently manages nearly €6 billion.
Linedata is dedicated to the investment management and the credit community. It competes with providers such as Advent Software and Indata.
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