The partnership is intended to address increasing demand from investment managers for global fixed-income products. According to Linedata, growth in the alternative mutual fund space and an increase in direct lending and private equity-type structures has led to a requirement for more robust and flexible systems.
Todd Roitfarb, head of fixed income products at Morningstar, said: “As the global fixed income market becomes more complex and as more managers move to gain international exposure, dealing with these complexities can become quite a burden.”
The partnership will pair Linedata’s Admin Edge fund administration platform with Mornigstar’s BondPro library of fixed-income and derivatives analytics an accounting calculations.
This will give fixed-income and alternatives administrators access to broader instrument coverage and more agility, providing better automation and faster time-to-market for new functionalities.
Roitfarb said: “Understanding the nuances of each market, and being able to keep up as they evolve, require constant vigilance, access to knowledge not easily available, and an ability to have flexible software that can evolve as well.”
Daniel Burstein, North America head of fund services at Linedata, added: “This partnership with Morningstar characterises our approach to providing timely, value-added services to our clients in the most efficient, cost-effective way. We know that an increasing number of our clients are dealing with the complexities of the fixed income and derivatives market.” “BondPro is the recognised leader in the provision of analytics and accounting calculations in this space and we are delighted to be able to make this software and expertise available to our growing client base.”