The solution is currently being used by a number of clients including a tier-one global investment manager. Broadridge Financial Solutions has launched its firm-specific fund-by-fund comparative securities lending assessment solution for mutual fund companies and the boards that oversee their funds.
Going by the name of Broadridge Securities Lending Board Insights, the client-specific report lets companies monitor the relative cost, fee ‘splits’, and income obtained from their securities lending arrangements.
Additionally, it helps interested parties receive appropriate rewards for the risks they undergo in their lending programs and helps to reduce risk related to mal-distributed securities lending income.
Eric Bernstein, head of Asset Management Solutions at Broadridge, commented:
“Faced with mounting pressure on fees and the need for a clearer understanding of competitive financials, many funds are looking to securities lending programs to maximize yield on their long-term holdings. Based on Broadridge’s unique data set, coupled with rich subject-matter expertise, the reports help boards and fund companies get ahead of today’s challenges to capitalize on what’s next, uncovering opportunities to improve their returns.”
Designed specifically for those who oversee (rather than carry out) securities lending arrangements, the Securities Lending Board Insights reports may also provide useful insights for the agent lender community as they look to benchmark their offerings against other service providers and to discuss program parameters with clients.
The solution fulfils obligations under Section 15(c) of the Investment Company Act of 1940, as well as the SEC mandates and other regulatory requirements.
The global Fintech leader and part of the S&P 500 Index has recently appointed Manuel Baptista as Managing Director and Head of Sales. Based in Brussels, Belgium, he is leading a global sales team focusing on expanding Broadridge’s Investor Communication Solutions (ICS) suite of services.
