Equity Trustees has partnered with a fintech to help boost its funds governance capabilities.
PControl Oversight, a provider of fund accounting and investment operations solutions and owned by the Milestone Group, will help provide a fund oversight framework for Corporate Trustee Services (CTS) clients.
This will enable CTS to automate a collection of client fund data from multiple custodians, registry and fund administrator sources, and independently verify data, unit prices or product valuation.
Equity Trustees executive general manager Harvey Kalman said the company has experienced significant growth in its trustee services business, which involved taking on the responsible entity role for the funds.
"To support this, and as a part of our strategy of providing market leading oversight services to clients, we wanted to standardise and automate the oversight function to create scale and boost controls across global jurisdictions," Kalman said.
Adopting the best solutions is necessary to ensure EQT adapts to an ever-changing regulatory environment, he added.
EQT recently flagged it was looking to expand globally, with CTS investigating offshore opportunities in Europe and Asia.
Milestone Group chief executive Geoff Hodge said: "The global regulatory landscape continues to evolve at a rapid rate, causing firms to place an even higher focus on effective oversight of outsourced operations. Having been pioneers of the automation of oversight, we are able to support Equity Trustees with the broadest jurisdictional coverage and most comprehensive set of standard controls currently available."