Ncs
Issue 27 - March 2007
Ausmaq signs up NCS to Pricestreme
Penny Pryor, Investment & Technology
Administration service provider Ausmaq has signed up NAB Custodian Services (NCS) to its Pricestreme product which collates unit price data on unlisted funds for custodians and master trusts.
NCS joins JP Morgan, State Street and a number of large platforms which use Pricestreme to assist them in compiling relevant data on unlisted asset prices.
Ausmaq is owned by National Australia Bank but the bank’s custody division has just started using Pricestreme, which was first launched in 2000.
NCS has also just completed an upgrade of its internally administered unit pricing systems.
Robert Brown, Ausmaq chief executive officer, said one of the benefits of the product was that it is tailored, and only supplies the prices that the relevant custodian or master trust needs.
“We value their unlisted unit trust holdings. We add a bit of value by tailoring it in line with their work flow needs,” he said.
Pricestreme may not account for a large percentage of Ausmaq’s total revenue, according to Brown, but is significant.
“We fill that space for managed funds. It’s quite a significant product. The other vendors tend to be retail focussed,” he said.