Mainstream Fund Services has been appointed by fund manager Redpoint Investment Management to provide middle office services under a three-year contract. It says this will be a transition from another provider and is expected to be completed by March 2020.

Mainstream will provide trade management and instructions, position keeping, shadow valuations and post-trade compliance for US$10 billion of assets managed by Redpoint. The services will be provided by Mainstream across teams in Australia and Hong Kong, highlighting Mainstream's global operating model.

Redpoint is a Sydney-based boutique fund manager specializing in listed asset classes, including Australian equities, international equities, global infrastructure and global property.

Mainstream has offered middle-office services since 2014 when it acquired HFO Limited's middle office business in Hong Kong. In September 2019, Mainstream appointed SS&C Eze to support its middle office capabilities. Mainstream says it will leverage SS&C Eze Investment Suite, a full front-to-back office technology solution, to provide its trade management and shadow valuation services to Redpoint.

Mainstream Chief Executive Officer Martin Smith commented: "We are seeing an emerging trend for outsourcing of middle office services with managers wanting to focus on front office activities, including research, performance, product manufacturing and distribution.

"We see middle-office services as a big opportunity for Mainstream and the deployment of SS&C Eze Investment Suite builds on our middle office operations acquired from HFO. This opportunity gives us significant scale to compete using best-of-breed technology to enable efficiency."

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Mainstream Fund Services has been appointed by fund manager Redpoint Investment Management to provide middle office services under a three-year contract. It says this will be a transition from another provider and is expected to be completed by March 2020.

Mainstream will provide trade management and instructions, position keeping, shadow valuations and post-trade compliance for US$10 billion of assets managed by Redpoint. The services will be provided by Mainstream across teams in Australia and Hong Kong, highlighting Mainstream's global operating model.

Redpoint is a Sydney-based boutique fund manager specializing in listed asset classes, including Australian equities, international equities, global infrastructure and global property.

Mainstream has offered middle-office services since 2014 when it acquired HFO Limited's middle office business in Hong Kong. In September 2019, Mainstream appointed SS&C Eze to support its middle office capabilities. Mainstream says it will leverage SS&C Eze Investment Suite, a full front-to-back office technology solution, to provide its trade management and shadow valuation services to Redpoint.

Mainstream Chief Executive Officer Martin Smith commented: "We are seeing an emerging trend for outsourcing of middle office services with managers wanting to focus on front office activities, including research, performance, product manufacturing and distribution.

"We see middle-office services as a big opportunity for Mainstream and the deployment of SS&C Eze Investment Suite builds on our middle office operations acquired from HFO. This opportunity gives us significant scale to compete using best-of-breed technology to enable efficiency."