Fund joins growing community of leading asset managers, owners and third-party administrators that are leveraging the advanced workflow capabilities of Linedata Optima
London, 24 June 2019 – Linedata (Euronext Paris: LIN), the global solutions and services provider to the investment management and credit finance industries, announces the extension of its 16-year partnership with West Yorkshire Pension Fund (WYPF). Linedata will lead WYPF’s digital and back-office transformation programme by delivering an integrated solution using Linedata Optima, a suite of tools for improved fund accounting processes, and fund services platform Icon. This will be complemented by business and technical consulting and support.
WYPF is a local government pension scheme (LGPS) fund with an asset value of £14.4bn and is a member of the Northern LGPS Pool, which has a total asset pool value of £46bn. WYPF manages 100% of its assets internally, with an operational focus on investment management within the pool.
Growing operational complexity and expanded regulatory requirements are increasing the need for LGPS managers to implement robust, fully automated solutions that reduce cost, mitigate risk and help to deliver excellent client service. In response, WYPF conducted a comprehensive review of its digital systems and requirements and selected Linedata to implement a scalable, future-proofed solution.
WYPF will use Optima’s web-based, API-driven workflow to digitise processes, better leverage data using advanced data analytics and reporting, and transform its operating model in line with the Northern LGPS Pool’s diverse investment mandates. Automating repeatable tasks will enable WYPF to deploy resources more effectively, reducing operational cost and potential risk. Linedata’s Professional Services team will help WYPF further streamline its operations using Optima’s exception-based digital workflows, which are underpinned by Icon’s powerful fund accounting capabilities.
Ola Ajala, Financial Controller, West Yorkshire Pension Fund, comments: “At West Yorkshire Pension Fund we pride ourselves on managing 100% of our investment mandates internally. This unique approach enables us to provide better service and returns for the tens of thousands of women and men who trust us to manage their retirement savings. Linedata Icon has consistently proven its worth as a powerful accounting platform and reliable investment book of records. We are delighted to extend our Linedata partnership to include Optima as we fully digitise our back office and transform our operating model in line with the diverse investment mandates of the Northern LGPS Pool.”
Ed Gouldstone, COO Northern Europe, Asset Management, Linedata, comments: “Fund accounting offers particular challenges for LGPS pools in terms of fund structure complexity, asset diversity, and unique reporting requirements. Optima enables fund administrators to reimagine their business processes and end-to-end workflows to reflect the realities of today – and tomorrow. We are delighted that WYPF has put its confidence in us and look forward to supporting their continued growth and digital transformation.”
With 20 years’ experience and 700+ clients in 50 countries, Linedata’s 1300 employees in 20 offices provide global humanized technology solutions and services for the asset management and credit industries that help its clients to evolve and to operate at the highest levels. Linedata Exchange, a premier client and industry forum, is hosted annually in Asia, Europe and North America. The next Linedata Exchange will be in London in June 2019.
Headquartered in France, Linedata achieved revenues of EUR 173.2 million in 2018 and is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP.