Linedata Services, the global solutions provider dedicated to the investment management and credit industry, announced that Cavendish Administration Ltd will use Linedata Icon to build a fully integrated portfolio administration, fund accounting and reporting solution for its operations. With over £1 billion of assets under administration, Cavendish is implementing Linedata Icon to be able to expand its business, service more funds and extend its service offering.
Cavendish was previously using proprietary tools for its portfolio administration and separate systems for fund accounting and wanted to migrate to a more sophisticated solution. Following the development of a controlled growth strategy, Cavendish identified specific business requirements which necessitated a single, comprehensive system which could address these needs and extend Cavendish’s service offering to existing clients.
“Linedata led a workshop with us to explore, map and evaluate our existing systems and processes,” said Anthony Lee, Director, Cavendish Administration. “This new system is comprehensive and can fully support our ambitious growth plan and significantly improve our capabilities along the way. We believe that Linedata Icon will enable us to build upon the excellent level of service that we currently provide to investment management companies and the funds they manage.”
“Fund administrators need to be able to deliver a streamlined, first class service in today’s environment. Their clients are extremely demanding and expect the best,” said Mike de Verteuil, Linedata’s Group Business Development Director. “We have invested in Linedata Icon to ensure it delivers the flexibility needed and efficiently handles the complexities which characterise today’s fund administration market. By using Linedata Icon, Cavendish will be able to extend its service offering to a greater number of funds and meet their clients’ exacting due diligence requirements. We’re proud to be supporting Cavendish’s growth in this area.”**
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Steve Husk, CEO of FRSGlobal, discusses the factors financial institutions are faced with in order to equip themselves against the current regulatory environment.
The adoption of IFRS for Canadian companies is in full swing. As of January 1, 2010, Canadian companies are required to file financial statements under IFRS. Although Canadian GAAP and IFRS are similar, there are three main differences that have posed a challenge for companies: effectiveness testing, hedge accounting eligibility, and fair value measurement. While not an exhaustive list, these issues have posed the greatest challenge for Canadian corporations during the first quarter of 2010. The following paper clarifies some of the differences in hedge accounting between Canadian GAAP and IFRS and shares best practices for hedge accounting to help Canadian corporations navigate through the transition.
With this Spring 2010 Edition of the Phone System Comparison Chart quickly see differences between brands like Avaya, Mitel, Cisco, ShoreTel, 8x8, Panasonic, etc and compare over 94 phone systems by 52 brands for small to big business.