Innocap Retains SS&C for Data Aggregation and Shadow Services

The $7.2 Billion Managed Account platform will leverage SS&C GlobeOp for its Investment Book of Record (IBOR) and net asset value (NAV) reconciliation

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SS&C

Feb 19, 2020, 09:00 ET

WINDSOR, Conn., Feb. 19, 2020 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Innocap Investment Management Inc. and IGIM ("Innocap"), a US$ 7.2 billion managed account platform provider, has selected SS&C GlobeOp to provide data aggregation and shadow services. SS&C will help support Innocap's platform growth and increase in the number of trading advisors, administrators and data provider relationships across different time zones and financial products. Innocap requires complete, accurate, reconciled and timely IBOR data to support the platform's oversight functions.

SS&C will consolidate and report aggregated data from more than 40 trading advisors on Innocap's platform and deliver its IBOR on trade date. Additionally, SS&C reconciles the daily NAVs, trial balances and performance fees across Innocap's multiple fund administrators to reconcile the independently aggregated IBOR with the official Accounting Book of Records (ABOR).

"SS&C is the largest provider in the managed account sector. We needed an efficient and scalable operating model in order to consume data earlier while reducing the complexity of processing, enriching and distributing data, complementing our internal processes," said Jean Baram, COO at Innocap. "As we grow, we look forward to leveraging Innocap & SS&C's combined experience with managed account platforms and institutional investors."

"We are pleased to support Innocap's growth strategy across their customized customer-driven structures," said Bill Stone, CEO, SS&C Technologies. "Innocap's confidence recognizes SS&C's decades of investment in data governance, control and transparency. Servicing managed account platforms is a core competency for us, and we are pleased to bring our expertise to Innocap."

About Innocap

Benefiting from its expertise and state-of-the-art technology, Innocap is a global leader in the managed accounts industry, as well as in operational, financial and regulatory risk management solutions. As at December 31, 2020, the company and its subsidiaries managed US$7.2 billion in assets for institutional investors, financial institutions and fund managers in North America, Europe and Asia. IGIM, is a wholly owned subsiduary of Innocap Investment Management Inc., which is jointly owned by BNP Paribas, Caisse de dépôt et placement du Québec and the members of its management team.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C