Harbor Capital Advisors Chooses SS&C's Front-to-Back Solution to Power Distinct Global Allocation ETF
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The selection of SS&C Technologies' investment management platform by Harbor Capital Advisors signifies a strategic partnership that could influence SS&C's market share and competitive positioning in the investment management technology sector. This collaboration indicates Harbor Capital's trust in SS&C's ability to provide a comprehensive solution that can potentially streamline operations and reduce costs associated with managing an ETF.
By integrating front, middle and back-office functions, SS&C is demonstrating its capability to offer a unified data environment, which is critical for real-time decision-making and risk management. The operational efficiency gained from such a platform could lead to improved fund performance and investor satisfaction, ultimately impacting Harbor Capital's growth and profitability.
Moreover, the launch of the Harbor Multi-Asset Explorer ETF as Harbor's first internally managed ETF marks an expansion in their product offerings, which could attract new investors seeking diversified investment options. This move may also reflect a broader industry trend where asset managers are looking to enhance their technological infrastructure to support innovative investment products.
Harbor Capital's decision to upgrade to SS&C's front-to-back platform for fund accounting and daily operational support is a financial endorsement that could reflect positively on SS&C's revenue streams. As Harbor Capital manages over $45 billion in assets, the adoption of SS&C's platform for the Harbor Multi-Asset Explorer ETF could lead to increased transaction volume and higher demand for SS&C's services.
The ability to provide a daily NAV (Net Asset Value) close, compliance support and interoperability are key factors that can influence an asset manager's operational effectiveness. SS&C's performance in these areas could serve as a case study for potential clients, potentially boosting its market reputation and leading to further client acquisitions.
It is also important to monitor the cost implications of such technology implementations. While the initial investment may be substantial, the long-term benefits, such as operational efficiencies and potential reduction in human error, could result in cost savings and higher margins for both SS&C and Harbor Capital.
The integration of SS&C's platform involves considerations beyond technology, including regulatory compliance and data security. As ETFs are subject to stringent regulatory requirements, SS&C's compliance support capabilities are crucial for Harbor Capital to maintain adherence to financial regulations. Ensuring accurate daily NAV calculations and compliance with trading laws are fundamental to the ETF's operational integrity and investor confidence.
Furthermore, the interoperability with in-house and third-party systems raises questions about data protection and privacy. As SS&C Technologies handles sensitive financial data, it must comply with industry standards and regulations, such as GDPR and SEC rules, to prevent data breaches and ensure the confidentiality of investor information.
The legal implications of technology adoption in the financial sector are complex and SS&C's ability to navigate these while providing reliable services can significantly impact its credibility and long-term partnerships with asset managers like Harbor Capital.
Harbor Capital uses Eze OMS for trading and has upgraded to a seamless front-to-back solution with the addition of SS&C Geneva for fund accounting and daily operational support for certain ETFs. The offering tightly links Harbor's front, middle, and back offices with a unified data set and in-depth capabilities.
Launched in September, the Harbor Multi-Asset Explorer ETF is designed to invest in a diversified portfolio of exchange-traded funds ("ETFs"), including other funds managed by Harbor. The ETF provides investors exposure to broad asset classes, such as equities, fixed income securities of any credit quality, real estate investment trusts, commodities, and cash and cash equivalents.
"We wanted to seamlessly integrate our workflows across the Harbor Multi-Asset Explorer ETF's operation from launch, and SS&C's front-to-back platform provided a compelling solution," said Kristof Gleich, President and Chief Investment Officer. "Harbor Multi-Asset Explorer ETF is our first internally managed ETF, and we wanted to be able to manage all workflows with a single vendor. SS&C's front-to-back solution stood out with the ability to provide a daily NAV close, compliance support, and interoperability with in-house and third-party systems. Additionally, SS&C delivered fast implementation and supported us throughout the process."
"We are pleased Harbor Capital trusted us with the important launch of its first internally-managed ETF," said Karen Geiger, Senior V.P., Co-General Manager, SS&C Wealth and Investment Technologies. "As the leading investment management technology provider to asset managers, we are committed to continuously developing our ecosystem of solutions to simplify operations. We look forward to working with Harbor Capital as its business expands."
About Harbor Capital
Harbor Capital Advisors is an asset manager known for curating an intentionally select suite of active ETFs from boutique managers. Advisors looking for distinct and differentiated investment options for their clients' portfolios often connect with our passionate obsession to find what we believe to be the best – bold solutions that have the potential to produce compelling, risk-adjusted returns. For more information, visit harborcapital.com.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in
SOURCE: SS&C
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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