Broadridge launches securities lending solution 04 April 2019New York Reporter: Maddie Saghir
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Broadridge has launched a firm-specific fund-by-fund comparative securities lending assessment solution for mutual fund companies and the boards that oversee their funds.
The solution, Broadridge Securities Lending Board Insights, is currently being used by a number of clients.
The client-specific report lets companies monitor the relative cost, fee ‘splits’, and income obtained from their securities lending arrangements.
In addition, it will help all interested parties receive appropriate rewards for the risks they undergo in their lending programmes, according to Broadridge.
Broadridge noted that it helps to reduce risk related to mal-distributed securities lending income.
Eric Bernstein, head of asset management solutions at Broadridge, commented: “Faced with mounting pressure on fees and the need for a clearer understanding of competitive financials, many funds are looking to securities lending programs to maximise yield on their long-term holdings.”
He added: “Based on Broadridge’s unique data set, coupled with rich subject-matter expertise, the reports help boards and fund companies get ahead of today’s challenges to capitalise on what’s next, uncovering opportunities to improve their returns.”
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