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SS&C Technologies Inc. (NASDAQ: SSNC), founded in 1986, is a global provider of software products and software-enabled services that focus primarily on the financial services and healthcare sectors. Headquartered in Windsor, Connecticut, SS&C operates worldwide, offering solutions that encompass account administration, asset valuation, compliance processing, data gathering, investment accounting, performance measurement, and regulatory reporting.
The company caters to a diverse clientele, including asset managers, banks, financial advisors, insurance companies, real estate investment trusts (REITs), and alternative investment firms. SS&C's offerings are tailored to meet the specific needs of each industry, ensuring operational excellence and compliance with regulatory requirements. By leveraging state-of-the-art technology, SS&C helps its clients manage and account for investments totaling over $44 trillion.
SS&C's product suite includes SS&C GlobeOp, which provides fund administration services to alternative and traditional asset managers, and Intralinks, a leading provider of Virtual Data Room solutions. The acquisition of DST Systems in 2018 expanded SS&C's footprint into the healthcare sector, adding pharmacy health management solutions and medical claim administration services to its portfolio. More recently, in 2022, SS&C acquired Blue Prism, further enhancing its intelligent automation capabilities.
SS&C's latest strategic moves include a partnership with Regnology to deliver an integrated risk and regulatory reporting solution designed to streamline compliance and analytical insights. This collaboration aims to help financial institutions adapt swiftly to regulatory changes, enhancing their operational efficiency.
Financially, SS&C has demonstrated robust performance, with record adjusted revenue and consolidated EBITDA for the full year 2023. The company generated over $1.2 billion in operating cash flow and maintains a strong cash position with a net leverage ratio of 3.05 times consolidated EBITDA. Despite global economic uncertainties, SS&C continues to see opportunities in both the financial services and healthcare markets, driven by strategic acquisitions and partnerships.
SS&C is also enhancing its global reach, recently receiving regulatory approval to expand its fund administration services in the Abu Dhabi Global Market. This move reinforces SS&C's commitment to providing comprehensive financial technology solutions across different regions and markets.
RiverNorth Opportunities Fund has declared a preferred dividend of $0.3750 per share for its 6.00% Series A Perpetual Preferred Stock (symbol: RIVPRA) for Q3 2022. Key dates include the Ex Date on August 1, 2022, Record Date on August 2, 2022, and Payable Date on August 15, 2022. This distribution is governed by the Fund's liquidation preference of $25.00 per share, though it carries inherent risks, including variability in net asset value and market conditions affecting returns.
SS&C Technologies Holdings (Nasdaq: SSNC) announced that Momentum Investments, a leading South African asset management firm, has chosen its Sylvan solution to enhance investment performance measurement and support growth. Momentum Investments, managing over R550 billion (US$34 billion), aims to integrate its performance systems into a single, robust platform. Jannie du Randt, Operations Executive at Momentum, highlighted Sylvan’s flexibility and SS&C’s expertise in their selection process. The award-winning solution offers cloud-based reporting and compliance with GIPS® standards.
Maryland Care, Inc. has selected SS&C Technologies to transition to the Singularity investment accounting platform. This decision aims to enhance operational efficiency, with a focus on timely and accurate reporting for its investment portfolios. SS&C's advanced technology and experienced team are expected to improve month-end close processes and statutory filings. With a 36-year track record in the insurance and asset management sectors, SS&C continues to expand its influence, especially within the insurance industry.
SS&C Technologies Holdings (Nasdaq: SSNC) will announce its Q2 2022 financial results on July 27, 2022, after market close. An earnings conference call is scheduled for the same day at 5:00 p.m. Eastern Time, where details of the financial performance will be discussed. Investors can access the press release on the company's website or via email alerts. SS&C provides software and services for the financial services and healthcare sectors, serving approximately 20,000 organizations globally.
SS&C Technologies (Nasdaq: SSNC) launched its new Asset Allocator Platform, integrating software and services for institutional investors. This platform serves pension funds, endowments, and foundations, enabling them to manage multiple investments effectively. Notably, the University of Wyoming Foundation migrated over 100 private funds onto this system. The platform enhances data aggregation, reporting, and portfolio management, aiming to streamline client operations. The launch reflects SS&C's commitment to providing cutting-edge solutions in the financial services sector.
SS&C Technologies Holdings (Nasdaq: SSNC) announced major enhancements to its SS&C Eze investment management platforms on June 23, 2022. The updates focus on fixed income liquidity, digital asset trading, and multi-asset workflows. New features include expanded liquidity options, improved repo workflows, a digital asset trading network supporting 26 token pairs, and enhanced automated trading capabilities. These developments position SS&C Eze as a leader in cutting-edge investment technology solutions, addressing key challenges faced by asset managers.
SS&C Technologies (Nasdaq: SSNC) has announced a strategic partnership with Xcentuate, enhancing its presence in the EMEA and APAC regions. This collaboration follows SS&C's acquisition of Blue Prism, a leader in Robotic Process Automation. Xcentuate will act as a consulting partner, providing implementation and support for complex projects. This partnership aims to leverage Xcentuate's expertise to access new customers, develop targeted solutions, and enhance professional services within the burgeoning operational automation market.
SS&C GlobeOp Forward Redemption Indicator for June 2022 shows an increase to 2.42%, up from 1.97% in May. This signifies lower termination notices compared to 2.68% a year ago, indicating strong hedge fund asset retention amid favorable year-to-date returns. The Forward Redemption Indicator reflects investor confidence, measuring redemptions from hedge fund investors. The next report will be published on July 22, 2022.
SS&C Technologies Holdings (Nasdaq: SSNC) announced the addition of four O'Shares ETFs to its offerings via its subsidiary, SS&C ALPS Advisors. The ETFs include:
- ALPS | O'Shares U.S. Quality Dividend ETF (OUSA)
- ALPS | O'Shares U.S. Small-Cap Quality Dividend ETF (OUSM)
- ALPS | O'Shares Global Internet Giants ETF (OGIG)
- ALPS | O'Shares Europe Quality Dividend ETF (OEUR)
These funds aim to deliver strong growth with reduced risk, focusing on quality stocks and thematic strategies, thereby expanding SS&C's investment products for various investor objectives.
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