Guggenheim Investments Picks NAV Platform

Guggenheim Investments has selected Milestone Group’s pControl platform to automate the firm’s management and control of net asset value (NAV) production and validation processes, according to today’s announcement.

Guggenheim Investments, with $127 billion in assets under management —operating as the investment management business of Guggenheim Partners LLC — chose Milestone Group’s NAV solution to eliminate the use of spreadsheets and manual processes. Instead, pControl aggregates and manages multiple data sources and formats, performs validations of NAVs and presents this in a single dashboard, according to the release.

Commenting on the NAV technology decision, Mike Scalzi, Head of Investment Valuation at Guggenheim Investments, “We are committed to investment excellence and aim to reduce operational, and specifically spreadsheet risk throughout our business.” Scalzi said that Guggenheim “required a cutting-edge fund administration solution and Milestone Group’s pControl stood out for its modular architecture, intuitive user interface and flexible management dashboard.” Because of the end-to-end automation that pControl brings to NAV processing, Scalzi said that Guggenheim Investments expects “to achieve a significant improvement from an efficiency standpoint, while its rules-based intelligence allows us to spend more time researching and resolving exceptions rather than having to identify them manually. It also means we can continue to reduce costs while reducing our error ratio.”

pControl offers exception management based on its embedded rules and process management capabilities. It comes with out-of-the-box logic for NAV validations and controls, as well as simple templates that provide the flexibility to build and implement new rules without the need for costly customization. The underlying platform also delivers a full audit trail of all NAV price production activity, together with client and SLA reporting capabilities.

“pControl enables users to target specific efficiency, service level and operational risk management enhancements across the fund processing value chain in a highly flexible, scalable and transparent environment,” stated Geoff Hodge, CEO, Milestone Group, in the release. “It provides true end-to-end automation and can replace daily tasks, checks and controls that clients would otherwise perform manually or in a semi-automated way.” Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio