BNP Paribas Securities Services has said that it will begin delivering real-time fund administration data to its private equity and real estate (PERE) fund manager clients through online reporting.
Scheduled to be launched in November, the service will give managers of alternative funds direct access to their fund accounting data.
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The company claims that fund manager will be able to save time by responding to queries from their investors and board members more quickly.
According to BNP Paribas, the system will be compatible with all major fund accounting and administration platforms used by the bank’s clients, and will be part of NeoLink: BNP Paribas Securities Services’ client information portal.
Hugh Stevens, head of PERE services at BNP Paribas Securities Services, said: "Today, PERE funds often include cross-border and pan-regional structures, and increasingly consist of intermediary companies in multiple markets.
"This service responds to managers’ needs by giving them direct access to the information on their funds. They continue to receive static reporting from our specialist private equity or real estate fund accountants – but can now drill down into their fund data and conduct flexible querying of the accounting data through an online interface," Stevens added.
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