Fidelity and Stone Coast work on bundled hedge fund solution
21 October 2024 US
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Fidelity Prime Services and Stone Coast Fund Services have announced a strategic relationship to create a new bundle of solutions for hedge funds.
This includes prime brokerage and fund administration, as well as access to Fidelity’s PB Optimize (PBO) fintech platform and Stone Coast’s ‘golden source’ fund data.
James Coughlin, senior vice president of Fidelity Prime Services, says: “This strategic relationship embodies our joint vision of providing an end-to-end integrated technology offering for fund managers, with cost efficiency and exceptional service at the forefront.”
Through the combination of prime brokerage and hedge fund administration services, the firms aim to allow funds to focus less on administrative overhead and more on growth and investment strategies.
Marc Keffer, founder and principal at Stone Coast Fund Services, adds: “By combining our golden source fund data with Fidelity’s innovative PB Optimize platform, we are poised to offer clients an integrated solution that enhances portfolio decision-making.”
Launched in 2012, PBO is a securities finance solution designed to provide transparency into the global securities market with the goal of utilising data and technology to help improve client outcomes.
PBO currently services more than 280 institutions and investors across Fidelity Investments’ Capital Markets Group, the firm says, overseeing US$5 trillion in assets under administration (AUA) and providing more than US$450 million in realised savings.
Servicing more than 100 clients with more than US$100 billion in AUA, Stone Coast Fund Services stands as the largest independent, privately-owned fund administrator, according to the firm.
It provides a full range of fund administration services to its global clientele, including customer service and technology offerings.
This includes prime brokerage and fund administration, as well as access to Fidelity’s PB Optimize (PBO) fintech platform and Stone Coast’s ‘golden source’ fund data.
James Coughlin, senior vice president of Fidelity Prime Services, says: “This strategic relationship embodies our joint vision of providing an end-to-end integrated technology offering for fund managers, with cost efficiency and exceptional service at the forefront.”
Through the combination of prime brokerage and hedge fund administration services, the firms aim to allow funds to focus less on administrative overhead and more on growth and investment strategies.
Marc Keffer, founder and principal at Stone Coast Fund Services, adds: “By combining our golden source fund data with Fidelity’s innovative PB Optimize platform, we are poised to offer clients an integrated solution that enhances portfolio decision-making.”
Launched in 2012, PBO is a securities finance solution designed to provide transparency into the global securities market with the goal of utilising data and technology to help improve client outcomes.
PBO currently services more than 280 institutions and investors across Fidelity Investments’ Capital Markets Group, the firm says, overseeing US$5 trillion in assets under administration (AUA) and providing more than US$450 million in realised savings.
Servicing more than 100 clients with more than US$100 billion in AUA, Stone Coast Fund Services stands as the largest independent, privately-owned fund administrator, according to the firm.
It provides a full range of fund administration services to its global clientele, including customer service and technology offerings.
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