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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.
SS&C Technologies Holdings (Nasdaq: SSNC) has released its Q4 2024 global and regional M&A predictions through the SS&C Intralinks Deal Flow Predictor. Despite ongoing challenges like interest rates and geopolitical uncertainties, dealmakers remain optimistic about strategic growth opportunities. Global M&A deal flow is expected to grow 5-10% above Q3 2024 and Q4 2023 announced volumes.
Key regional forecasts include:
- Asia Pacific: Stable with upward growth trajectory, particularly in China, Hong Kong, and India
- Europe, Middle East, and Africa: Double-digit growth, with strong performance in France, Germany, and the UK
- Latin America: Stable performance, with promising activity in Mexico and Colombia
- North America: Steady climb in pre-announced deal volume, with Canada showing impressive growth
The SS&C Intralinks Deal Flow Predictor forecasts future M&A announcements by tracking early-stage M&A activity on the Intralinks platform, typically six months ahead of public announcements.
SS&C GlobeOp has released its Hedge Fund Performance Index and Capital Movement Index for September and October 2024, respectively. The Performance Index showed a 1.22% gross return for September, while the Capital Movement Index indicated a 0.44% decline in October.
Bill Stone, Chairman and CEO of SS&C Technologies, noted that the October decline reflects seasonal asset allocation and portfolio rebalancing patterns. He highlighted that current market conditions, including higher interest rates and persistent inflation, provide opportunities for hedge fund alpha generation and attractive risk-adjusted returns.
The SS&C GlobeOp Hedge Fund Performance Index, which began in January 2006, offers an independent view of hedge fund performance. It has shown a 6.77% year-to-date return and a 10.25% return over the last 12 months. The Capital Movement Index stands at 124.19 points, having decreased by 3.36 points over the past year. The next publication date for these indices is set for November 13, 2024.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced an extension of its transfer agency relationship with abrdn, a global investment company and asset manager. The extended partnership covers abrdn's fund ranges in the U.K., Luxembourg, and Singapore. SS&C provides transfer agency services for abrdn's OEIC and Life funds, supports Luxembourg liquidity and SICAV funds, and serves U.S. funds through SS&C GIDS.
The new contract includes enhanced servicing for Luxembourg-domiciled funds, improved client reporting, and enhanced AML services. SS&C is also partnering with abrdn to enhance digital channel services for the Singapore business. This extension solidifies the long-standing partnership between SS&C and abrdn, aiming to deliver exceptional service to abrdn's diverse client base.
SS&C Technologies Holdings has released the results of its 2025 LP Survey, conducted in collaboration with Private Equity Wire. The survey, which polled 171 global investors, reveals that 62% of partners (LPs) plan to increase or maintain their allocations to alternatives in the coming year. Additionally, 78% of LPs anticipate increased deal activity, driven by new funds and deal structures in private markets.
Key findings include:
- Private equity generated the best risk-adjusted returns among alternative assets
- 75% of LPs prefer the U.S. and Canada for investments
- Valuations and geopolitical uncertainty are top concerns for LPs
- 70% of LPs use technology for portfolio monitoring, but 81% desire better data aggregation across multiple funds
The survey highlights ongoing optimism in the alternative investment sector despite macroeconomic uncertainties, with private equity and private debt continuing to outperform other asset classes.
SS&C Technologies unveiled its latest technology and services solutions at the SS&C Deliver 2024 Conference in New Orleans, attracting nearly 1,000 industry leaders. The event showcased innovations in digital transformation, AI, managed IT services, and loan management. Key highlights included:
1. Streamlined investor onboarding and improved fund administration processes
2. Introduction of Battea Class Action Services for securities claims management
3. DomaniRx platform for healthcare payers to manage regulatory demands and data fragmentation
4. DealCentre AI™ platform for simplified deal management
5. Comprehensive managed IT services solution for financial and healthcare organizations
6. Next-gen innovations including Financial Wellness AI, Fund Services Portal, and ARIA (Algorithmics Risk Intelligent Agent)
SS&C emphasized its commitment to simplifying operational complexity and delivering value to the financial services and healthcare industries.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced it will release its financial results for the third quarter ended September 30, 2024, after market close on Thursday, October 24, 2024. The company, a global provider of financial services and healthcare software and software-enabled services, will host an earnings conference call on the same day at 5:00 p.m. Eastern Time to discuss the Q3 2024 results.
Interested parties can access the earnings release via PR Newswire and SS&C's website. To join the conference call, participants should dial 888-210-4650 (US and Canada) or 646-960-0327 (International) and request the "SS&C Technologies Third Quarter 2024 Earnings Conference Call" using conference ID #4673675. A live webcast of the call will be available on the Investor Relations section of SS&C's website, with a replay accessible afterwards.
Principal Real Estate Income Fund (NYSE: PGZ) has declared monthly distributions of $0.105 per common share, payable in November 2024, December 2024, and January 2025. Based on the Fund's current net asset value share price of $12.22 (as of September 26, 2024), these distributions represent an annualized distribution rate of 10.31%.
The Fund is designed as a long-term investment and involves risks, including potential loss of investment and exposure to below-investment grade investments. The Fund's net asset value and distribution rate may be affected by various factors, including market conditions and leverage use. Distributions may include net investment income, capital gains, and return of capital. Investors are advised to carefully consider the risks and investment objectives before investing.
The Fund trades on the secondary market as a closed-end fund, and share prices are based on market value. ALPS Advisors, Inc. serves as the investment adviser, while Principal Real Estate Investors is the sub-adviser.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced the broad rollout of SS&C Accord, an AI-enabled service designed to help wealth managers aggregate and validate their customers' alternative investment data. This service leverages SS&C's expertise in wealth management and alternative investment fund administration to provide a single source of clean alternatives data for wealth managers.
SS&C Accord offers an end-to-end service managed by a dedicated account team, utilizing intelligent automation and human experts to monitor, retrieve, and process alternative investment data. The service aims to address the challenges of alternative investment data collection and reconciliation, which often lack consistent reporting standards.
Choreo, an independent financial planning firm, has already benefited from SS&C Accord in consolidating client accounts after a major acquisition. The service is designed for wealth managers, Registered Investment Advisors, pension funds, endowments, and family offices, offering a comprehensive control panel for viewing clients' alternative investments data.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced that the SS&C GlobeOp Forward Redemption Indicator for September 2024 measured 2.72%, up from 2.59% in August. This figure is slightly higher than the 2.71% reported for the same period last year but consistent with longer-term monthly averages and seasonal patterns.
The indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on their platform, divided by the Assets under Administration (AuA) at the beginning of the month. Bill Stone, Chairman and CEO of SS&C Technologies, noted that mixed economic signals and a recent large rate cut could potentially catalyze increased market volatility.
The SS&C GlobeOp Hedge Fund Performance Index showed a flash estimate of 0.75% for the current month, with a year-to-date performance of 5.94% and a last 12-month performance of 9.14%.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced that Direxion, a leading provider of tradeable and thematic ETFs, has chosen SS&C ALPS Distributors for medallion distribution services for their ETF and mutual fund range. Direxion, managing over $40 billion in assets, will benefit from SS&C's comprehensive suite of Registered Fund Services. SS&C will act as the underwriter and distributor, handle FINRA compliance, review marketing materials, and support Direxion's distribution strategy.
This partnership allows Direxion to access SS&C's end-to-end service and distribution solutions, designed to enhance customer experience and streamline order flow with authorized participants. SS&C ALPS Distributors currently services more than 300 ETFs with over $1 trillion in assets under distribution across 47 trusts.
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