Value investment manager Mondrian Investment Partners has selected FundGuard to update the fund accounting element of its investment operations platform.
The selection follows a review of potential replacements. Mondrian cited FundGuard’s “cloud-native technology stack, real-time exception management and seamless reporting capabilities.”
FundGuard’s solution includes real-time investment accounting, ABOR and IBOR, as well as general ledger capabilities for both funds and separately managed accounts. This is intended to provide a single source of insight across investment and operations teams, supporting equities, fixed income and derivatives.
The selection followed a proof-of-value process in which FundGuard acquired and managed Mondrian’s operational and fund accounting data. FundGuard’s solution will sit alongside other cloud based solutions from Salesforce and Denodo on the platform, as part of an ongoing update of the full technology stack supporting the investment strategies and client needs.
Warren Shirvell, Mondrian’s chief operating officer and managing partner, commented: “FundGuard’s modern architecture and progressive design of a ‘future-state’ investment operational model stood out against other investment accounting solutions. The quality and depth of FundGuard’s experienced team provided further comfort that we have found the right investment accounting technology partner.”
Lior Yogev, CEO and co-founder of FundGuard, commented: “FundGuard represents a new generation of investment accounting platforms: cloud-native from inception, real-time by design and built around the needs of today’s asset managers and their clients. Mondrian’s decision echoes what we’re hearing across the industry: the cost and rigidity of legacy tech are no longer acceptable. Firms want platforms that think the way they do. We’re excited to partner with the forward-looking team at Mondrian and support their continued innovation.”
