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By clicking "I AGREE" below, you consent to the terms and conditions above and you confirm and agree that:

  1. you are not a person prohibited under the laws of your country from accessing the information on the investment products and services referred to herein;
  2. by accessing this website you will not contravene or cause Prescient to contravene any law that seeks to regulate the promotion of financial products either in the country of your residence or in the country in which you are viewing this website; and
  3. any investment which you may place with or through Prescient is based solely on your own enquiry and initiative and is not due to any offer or solicitation by Prescient.
   
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Who We Are

Newsletter Test

 

 Fund managers outsource increasingly complex administration

 
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In 1998 when Prescient Investment Management was established, administration was identified as a key competency for development within the business.

The group’s investment in this area resulted in us being approached by other asset managers to provide fund administration services and, over time, we became a key provider of administration to smaller asset managers running unit trusts, and to larger institutional clients.

Since its establishment as a separate business within the Prescient group four years ago, Prescient Fund Services (PFS) has evolved significantly.

Pure administration remains a key deliverable, but has been supplemented by a range of services that differentiate us in the investment management market that has grown in complexity due to regulation, competitive pressures and cost and capital constraints.

The barriers facing entrants to fund management have become much more complex and as a result, could lead to a lack of diversity and innovation in the industry - which would ultimately be to the detriment of the people whose money the industry is overseeing.

PFS plays an enabling role in this environment through the provision of cost-effective fund administration services to fund managers.

We provide an administrative backbone for new and smaller established investment management businesses, including compliance with increasingly onerous regulation. This allows our clients to focus on their business, which is managing money.

Ireland Operations

Prescient’s administration business in Ireland received regulatory approval in 2010 and utilises the same solution and technology platform as our South African business.

Over the last four years, we have grown our business in Ireland to be a fully-approved UCTIS management company and Alternative Investment Fund Managers (AIFM) management company.  The AIFM directive is Europe’s latest legislation that applies to fund business that do not comply with UCTIS.

In South Africa we provide services to 23 third party managers and our intention is to expand in Ireland where we currently have two third party managers. Our Ireland operation is a great opportunity for clients to leverage off of the infrastructure we have developed. To date, there has been considerable interest from South African managers wanting to manage funds offshore in offshore vehicles. This will be one of our key growth areas in the next two to three years.

Solutions-based

As a solutions-based provider there are a number of aspects to what we do for our clients.

In the investment world, both from an individual and an institutional perspective, it’s about pooling assets to improve efficiency. At the top level we see ourselves as a platform provider, giving investment managers a number of options to house money.

Through our unit trust management company, we are available to third party managers to provide them with the infrastructure and pooling mechanism using Prescient’s unit trust licence. This has become a popular option amongst emerging managers as well as some of the established ones that don’t want to go through the costly and rigorous process of establishing a unit trust management company.

In addition, our UCTIS registered management company can provide the same service in Ireland as we do in South Africa.

With an established base in fund administration, we asked ourselves what other things investment managers struggled with - the things that take up time and cost money.

As a result, we added additional services including performance attribution, pre- and post-trade compliance and a front office dealing system. Our latest offering is global execution services, which allows investment managers to focus on selecting stocks before handing over the execution of trades to ourselves.

We expect demand for these services to grow, due to regulatory pressure facing investment managers globally which require them to demonstrate that their trades are in the best interests of clients.

Enabling Prescient

Staying on top of regulatory requirements requires the right people and the right technology – two key elements that enable Prescient Fund Services.

Our people are entrepreneurial. They think laterally and work well under pressure. They are delivery orientated and take the credit for the growth of our business. However, having the right technology is also key.

The backbone of our technology is Eagle Investment Systems, a US-based provider of financial services technology and a subsidiary of BNY Mellon. We’ve been operating on the Eagle system for five years and use it for a number of key functions including fund accounting, unit pricing, performance attribution and data warehousing.

One of the great benefits of Eagle is that our clients are able to access the system, ensuring full transparency at all times.

Another system that we’re in the process of rolling out is Vermillion, our reporting solution, which has taken on greater significance given stricter regulatory measures and more onerous reporting requirements.

Our new addition, Markit thinkFolio, provides an integrated front office portfolio modelling and order management system with coverage across bonds, equities, money market instruments and their derivatives. With Markit thinkFolio, we are able to help investment managers ensure that they are complaint pre- and post-trade.

 

 

 
                                  
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Liang Du
Co-Head of Asset Allocation
Prescient Investment Management 

Liang Du joined Prescient Investment Management in December 2005 as a portfolio analyst.  He graduated B.Bus.Sc (Honours) at UCT majoring in Statistics, Finance and Actuarial Science, he is also a CFA Charterholder, hold a Certificate in Quantitative Finance, and completed his MBA from UCT Graduate School of Business.

Liang joined Prescient as an analyst in the Equity team, researching and launching the Equity Active Quant mandate before moving to the Positive Return and Balanced portfolios.  Today Liang is co-head of Asset Allocation, responsible for asset allocation decisions across Prescient portfolios.  Liang was also the driving force behind investing in China, together with his team also manages all investments in China.

 

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