Calastone, the global fund transaction network, this week won an industry award for Best Technology Provider before an audience representing the best of the front, middle and back office functions underpinning the funds industry.
The shortlisted contenders included BNP Paribas Securities Services, Multifonds and SunGard, with SunGard highly commended within the category.
Calastone was described as having “pipped others to the post with their ability to customise, yet at the same time offer the flexibility and cost constraints fund managers are asking for.”
The Best Technology Provider was said to have been “a hotly contested category with some dazzling technological innovation on display.”
The judging panel, chaired by Deborah Benn, was comprised of: Richard Barrett, Director of operations at IFDS; Phil Davies, Chief Technology Officer at Milestone Group; Euan Fraser, UK CEO at Alpha Financial Markets Consulting; Esther Morris, Founder, Nine Feet Tall; Robert Mirsky, Head of Hedge Funds in the UK, KPMG; Mark Seaman, Fund Administration Consultant; Simon Ellis, Fund Services Consultant and Lawrence Gosling, Editorial Director at Investment Week.
Gosling said the awards intended to honour those service providers which had demonstrated the knowledge, drive and expertise to fulfil back, middle and front-office functions to keep the wheels of the fund management industry running smoothly and efficiently.
Other categories rewarded at the ceremony were Best Fund Service Solution, Best Specialist Fund Service Solution, Best Technology Solution, Best Compliance Service and Best Fund Service Centre.
The awards ceremony, held in partnership with Fund Management Summit 2013 and jointly hosted by leading trade publications Investment Week and Investment Europe, was held at Kings Place in London on Wednesday 16 October.
Gosling said: “It’s an important time for the industry as a whole. As the financial services sector gradually emerges from the global economic crisis, the increased focus on transparency has witnessed the birth of innovative and expert services that not only improve fund management processes to a high standard, but also encourage and promote best practice.
“Competitive pressures are also seeing a need for fund managers to get to market in the most efficient and quickest time possible. Whether it is through the use of specialist software, or expert technical and administration knowledge, providers who demonstrate they not only possess the relevant expertise, but can also offer the speed flexibility and support fund management firms are looking for increasingly in demand.”
Julien Hammerson, chairman and chief executive at Calastone, said: “We are delighted that Calastone has won the award for this tough category, having beaten stiff competition from the likes of SunGard, Multifonds and BNP Paribas. Calastone is committed to continually improving its service proposition and helping the funds industry increase levels of efficiency via STP automation while simultaneously driving down costs. Everyone across our teams is very proud of this achievement and I look forward to competing next year as these awards gain further recognition.”