BNP Paribas expands Stronger Super capabilities

BNP Paribas Securities Services (BNP Paribas) has expanded its Stronger Super capabilities to provide detailed reporting and ‘look-through' data for super funds through its outsourcing arrangement with Milestone Group.

The technology leverages the Australian Prudential Regulation Authority's (APRA's) reporting functionality through Milestone's pControl platform which BNP Paribas uses for a range of fund processing functions, with the custodian's own proprietary reporting and analytics system.

The solution aggregates managed fund information in a standard format provided by BNP Paribas' market information vendor, Ausmaq.

Milestone Group chief executive Geoff Hodge said the technology had been developed over the last 12 months and reflected the different needs of market participants.

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"Early on, we recognised that pControl's understanding of fund products and ‘look-through' capabilities makes it ideally suited to handle the data and new reporting requirements by APRA from 1 July 2013," he said.

The reporting tool also enables a greater ability to stress-test a fund.

"The challenge for the industry has been in gathering managed fund information in a standardised way to make information sharing easier between counter-parties, and minimise duplicate reporting for fund managers," BNP Paribas head of client strategy and communications, Peter Baker said.