FISERV GAINS SPECTRUM GLOBAL FUND ADMINISTRATION AS A CLIENT

Posted September 8, 2009

BROOKFIELD, Wis. – Spectrum Global Fund Administration, a middle- and back-office outsourcing and administration solutions provider to hedge funds and funds of funds, has implemented Accurate, an automated cash and position reconciliation and execution management solution produced by financial services technology solutions provider Fiserv Inc.

“It fully supports our daily fund administration environment,” says Michael E. Griffin, Chairman and Chief Executive Officer, Spectrum Global Fund Administration. “Fiserv’s deep experience has resulted in a rapid implementation, creating a consolidated platform to standardize daily reconciliation processes, increase operational efficiency and provide greater visibility into transactions across the enterprise. The ongoing support and training from Fiserv will also ensure Spectrum’s quality of service aligns with our demanding client expectations.”

Implementing Accurate enabled Spectrum to create a “single source of truth”, providing a full audit trail and enterprise-wide reporting, in addition to streamlining data files from multiple, external prime brokerage houses. The solution has enhanced daily reconciliation processes and controls and is being applied to all investment vehicles housed within the organization.

“Spectrum is well positioned for rapid growth as the market rebounds and delivers a strong pipeline of new business. Fiserv’s enterprise solution is best placed to improve core reconciliation processes, enable greater visibility and provide a solid foundation for operational control and improved business efficiency,” says Elizabeth Elkins, General Manager, Financial Control Solutions, Fiserv. “By making the move to Accurate from Fiserv, Spectrum will be able to accelerate and support business growth and deliver enhanced daily service to customers through their technology advantage.”