POWERED BY MOMENTUM MEDIA
Sargon to launch super-geared integrated fund administration system
Financial technology and infrastructure company Sargon has launched a new fund administration system for the superannuation and funds management industry, to transform the industry’s ageing technology.
The new full-stack administration technology solution would be available in early 2020 and would seamlessly integrate super funds with key industry participants.
This was expected to enable reliable and secure movement of data and money, utilising global standards in a fully scalable, cloud-hosted service.
Phillip Kingston, Sargon chief executive, said despite the success of Australia’s superannuation industry, it’s annual cost-base exceeded $30 billion.
“A significant portion of these costs arise from fund administration which should be straight-through automated processes supported by capable and efficient customer service and member administration staff,” Kingston said.
“Administration in Australia is far too manual and expensive, costing multiples more than in New Zealand and elsewhere.”
“Although some current systems may have the appearance of modernity, this is largely a façade patched over outdated systems and processes.”
“Conversely, Sargon’s system is built from the ground up, unburdened by legacy issues and leveraging scalable technology enablers such as cloud computing and industry standard gateways.”
Recommended for you
In this latest edition, Anna Shelley, CIO at AMP, shares the fund’s approach to current market conditions and where it continues to uncover key opportunities.
The mega fund has announced a $2.2 billion investment in a leading data centre platform, bringing its global real assets portfolio to nearly $60 billion.
In this latest edition, Australian Retirement Trust’s head of global real assets Michael Weaver explains the fund’s approach to finding new opportunities as it surpasses $300 billion in funds under management.
Fund managers remain hopeful for a Chinese revival story despite the “disappointing” stimulus package announced this week.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
