Date: 28 November 2012

Genesis Investment Management Selects i-Recs to Manage NAV Reconciliation

Watson Wheatley, an emerging supplier of reconciliation tools and services to the asset management industry, has supplied its flagship products i-Recs and Importer to Genesis Investment Management LLP (GIML), a London headquartered specialist in managing Emerging Markets equity portfolios, to automate its custodian reconciliation processes.

“We are delighted that Genesis has chosen our products to help in this business critical area. The recent integration of Importer within i-Recs simplifies the custodian data delivery issue despite complex source formats, and the new NAV reconciliation module of i-Recs has given the client the control of the portfolio data they were looking for” says Duncan Wheatley, director and founder of Watson Wheatley.

Martyn Ryan, Partner at GIML says “i-Recs provides a valuable add on to our existing systems, providing a very flexible reconciliation tool which we anticipate will allow us a high level of automation, and replace existing manual processes. The quality of the management reporting suite is also very impressive.”

Sally Barr, Senior Manager, Portfolio Administration, and responsible for the implementation at GIML commented “For a project of this size, I was very pleased with how quickly the implementation was completed. I was impressed with the capacity of Importer – we deal with many custodians and various file formats, and Importer now allows each to be presented in a standard format – this is a very powerful attribute.”