Tag Archives: Funds

Accounting, Assets, Business, Financial, Financial Management, Financial Software, Financial Solutions, Investment

Framework becomes daappa, the data, accounting, and administration platform for private assets

LUXEMBOURG, 17-Jan-2021 — /EPR FINANCIAL NEWS/ — Global fintech, Framework PEIDM, has announced a new name and brand identity – alongside a new product release – as the final phase of its multi-year digital transformation.

Building on a long pedigree, Framework has rebranded to daappa, as the firm looks to stay ahead of the rapidly evolving private asset market.

The company was acquired by Bertil Rouveure (its chairman) in 2016, following its initial sale as Accounting Frameworks to 3i Infotech in 2008. Since then, daappa has been on a journey of rejuvenation and evolution, culminating in a new management team, the opening of an office in Luxembourg, an upgrade of its core platform, the launch of new products, and new service capabilities including daappa cloud – a managed cloud and data service delivery model.

The rapid pace of change in the private asset market has underpinned the evolution of daappa.

The ‘retailisation’ or democratisation of an asset class long the preserve of very wealthy and sophisticated investors, means the industry is facing demands to become more transparent and socially responsible – against a backdrop of downward fee pressure and more stringent regulatory oversight.

Augmenting daappa’s core accounting, administration and reporting capabilities, is the launch of two new products – daappa Studio and daappa Studio+, which meet these industry challenges head on, with new value-added applications including mandate and ESG Compliance, complex investment structure Look Through, investment and operational data Analytics, a reporting, data and document Portal, and DataHub that addresses a long-held goal of many firms by creating a single source of truth for aggregated internal and external data.

Alongside this wider repositioning, daappa has undergone a cultural reboot. As a global firm, the new management team has been mindful of workers’ local traditions and customs, as well as the firm’s impact on the environment, with the launch of a new CSR initiative, mission statement and company values statement.

Bertil Rouveure, daappa Chairman, said: “Engagement with our clients and the wider industry means we know there is a clear need for the private market industry to be more open and collaborative”.

“Our team has worked diligently over the last 18 months to establish the daappa ecosystem, providing our clients with a flexible and scalable technology platform and a proactive partnership approach to client servicing.”

Karim Ali, daappa CEO said: “The initial feedback on the rebrand from our clients, prospects and consultants has been overwhelmingly positive”.

“While in the process of revamping and expanding our platform and services, we concluded the time was right to update our core values, mission, and objectives.”

“Our clients, and indeed the industry, are demanding a better user experience, transparency, interoperability and flexibility – this has been our focus”.

— ENDS–

About daappa

daappa is the data, accounting, and administration platform for private assets.

The daappa platform is a combination of software, cloud technology, data management and proactive client servicing designed to assist asset owners, general partners, asset managers and fund administrators to be data-driven, transparent and operationally efficient.

daappa has been purpose-built to manage complex investment, structures and funds related to private equity, debt, loans and real assets with front to back-office functionality, inbuilt workflow, reporting and data management capabilities that are delivered via a secure, managed cloud service.

We are a socially responsible global fintech with a mission to advance the democratisation of private asset markets. We are trusted by our clients to help them stay ahead of regulatory and operational change. Our agile team cares deeply about what we produce and deliver to help our clients minimise their risks and maximise their opportunities.

SOURCE: EuropaWire

Assets, Business, Financial, Financial Management, Financial Services, Financial Software, Financial Solutions, Investment, Personal Finance

Luxembourg fund servicing firm Fidupar goes live with Framework’s investment and operations platform

LONDON, 13-Dec-2021 — /EPR FINANCIAL NEWS/ — Framework, a specialist provider of middle and back-office technology for private markets, announces today that Luxembourg based fund advisory and administration company Fidupar S.A. is now live on Framework Core (Core) to support their Investor Services, Fund Accounting, General Ledger, and Reporting functions. Having implemented Core, Fidupar, who has seen a surge of interest in its services, can deliver sophisticated investor services to its clients, as well as an improved way to navigate the changes to existing and new regulations within the private assets market.

Nicolas Montagne, Managing Director of Fidupar, said: “Framework’s dedication in supporting and ensuring a smooth transition to our new robust platform was second to none, they clearly listened to our needs and upcoming challenges as a fund servicer. We are confident that with Core in place our clients can expect superior service. Choosing Framework as a software partner was the right decision for our business.”

With Core now embedded, Fidupar has access to a powerful tool that optimises its operational efficiency for its administrative functions, including transaction management, accounting and valuations – on a secure and open architecture cloud-hosted platform. Core also incorporates robust and flexible reporting capabilities and shareholder services including automated investor communications.

In addition to a favourable legal and tax regime, one of the main draws of Luxembourg is the highly-skilled, multilingual staff who can provide tailor-made services for international clients as are found at Fidupar. This commitment to responsiveness and focusing on the needs of customers was an attribute that Fidupar recognises in Framework too.

Craig Tyzack, Head of Delivery & Operations of Framework added: “Working with the Fidupar team allowed us to solidify the reasons they chose Framework as their software provider throughout the implementation process. We focused on understanding Fidupar’s requirements and used our industry knowledge to customise our solution to those needs. Delivering a user-friendly, robust platform to our clients is paramount.”

About Framework
Framework, founded in 2000, is a specialist provider of middle and back-office technology for private markets. Since being acquired by BRD Investments in 2016, Framework is committed to advancing open, flexible digital solutions for asset owners, managers and administrators and the evolution of private asset funds. A significant number of platform and product enhancements have been undertaken, many specifically to address the current and future requirements of leading sophisticated private asset administrators.

Framework holds a leading position with Development Bank customers in Europe and North America and in particular the UK, and services several industry-leading independent or bank-owned asset managers in Europe and the Middle East.

About Fidupar
Part of the Elate Group, Fidupar was formed at the beginning of 2000 by the contribution of the activity of the financial engineering departments of two major banks in the Luxembourg financial centre.

By focusing on the needs of our customers, we have grown considerably with the deep commitment to our historical values: responsiveness, creativity, commitment, and ambition, while maintaining a high level of ethics.

With multilingual staff specialised in different sectors, we provide tailor-made services for our international clients. Our multidisciplinary teams work in close collaboration with our clients in the realization of their projects.

SOURCE: EuropaWire

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Finds Parents Prioritise Children’s Dreams

According to The Children’s Mutual over 5.5 million* young people in the UK are receiving financial help from their parents in order to realise their dreams and aspirations. In some cases this could lead to their parents abandoning their own dreams for the future and potentially undermining their finances.

thechildrensmutual

The research by the leading Child Trust Fund provider illustrates the finances that can be needed to realise an adult child’s ambitions and The Children’s Mutual is encouraging parents of today’s younger children to consider saving now if they want to be able to afford both these and their own retirement dreams.

Many parents of today’s 20 something’s have had to raid their own savings or sacrifice their retirement goals in order to help their adult children fulfil theirs. After spending years saving to fulfil their long-standing future plans, parents are finding that when the time comes the funds won’t cover the aspirations of both generations.

28%** of today’s 25 year-olds have financial support from their parents towards education, 23%*** towards their rent and 19%*** have financial support from their parents towards holidays and trips abroad.

David White, Chief Executive, The Children’s Mutual, commented, “We are highlighting to parents of younger children that by starting to save for their child’s future now, they can help avoid the struggles faced by the baby-boomer generation who regularly sacrifice their own dreams for those of their children.”

Research from The Children’s Mutual shows that 80%** of today’s 18 to 25 year-olds believe they can be ‘financially independent’ while still receiving financial support from their parents and 66%*** of those who are ‘completely financially independent’ still get some form of financial support from parents.

Starting to save small amounts regularly over the long-term into Child Trust Funds, is one way parents of today’s children could stand a better chance of fulfilling their own desires alongside being able to provide for their children as they enter adulthood.

David White continued; “Making the step into adulthood is often a strain financially. But from 2020 all 18 year-olds will be receiving their Child Trust Fund and those whose families have managed to save the maximum amount of £1,200 each year will have a fund that could be worth£37,100**** upon maturity. Those who save the average amount amongst our customers of £24 a month could have a fund worth £9,750 (based on investing £24 a month) when they reach age 18.”

* 6,309,156 (UK 18-25 year olds – source: statistics.gov.uk) / 100 x 87.2 (18-25 year olds who have had financial help from their parents according to The Children’s Mutual’s Financial Independence Report 2009) = 5,501,584
** Financial Independence Report commissioned by The Children’s Mutual February 2009
*** ibid
**** Projection includes monthly investment (plus £250 government vouchers at birth and age 7) for 18 years in a stakeholder CTF account. Assumed investment return – 7% a year, with charges of 1.5% of the CTF account value each year. Projected values cannot be guaranteed as shares can go up or down. Final payout could be more or less than this.

About The Children’s Mutual – Home of the Child Trust Fund
The Children’s Mutual’s mission is to help parents, grandparents, family and friends fulfil their hopes for today’s children. The Children’s Mutual is the only UK company that specialises in long term savings for children and is now the choice of 1 in 4 parents for their child’s Child Trust Fund, with more than 650,000 accounts.

The Children’s Mutual has won the The Moneyfacts Award for Best Child Trust Fund Provider every year since its 2006 launch.

This expertise has led several financial institutions and family-focused high street retailers to choose The Children’s Mutual as their CTF partner including ASDA, Boots, The Co-operative, Lloyds TSB, Mothercare and regional bank and building societies across the UK.

Via EPR Network
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