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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.
The ALPS REIT Dividend Dogs ETF (NYSE: RDOG) announced a fourth quarter distribution of $0.23008 on December 21, 2021, set to be paid on December 29, 2021, to shareholders on record by December 23, 2021.
Key dates include:
- Ex-Date: December 22, 2021
- Record Date: December 23, 2021
- Payable Date: December 29, 2021
For more detailed information, visit ALPS Funds.
SS&C Technologies (SSNC) announced the launch of Lincoln Financial Group's PathBuilder Income solution on its Retirement Income Clearing Calculator (RICC) platform. This integration allows for guaranteed monthly income for life, alongside market protection and participation in market gains. The RICC platform simplifies distribution and servicing of this product across various recordkeeping platforms. SS&C's technology enhances efficiency by facilitating rollovers to companion IRAs if chosen. The initiative addresses rising consumer demand for lifetime retirement income solutions.
SS&C Technologies (Nasdaq: SSNC) announced a strategic investment in a new company formed from the merger of Equiniti and American Stock Transfer & Trust Company (AST), recently acquired by Siris Capital Group. This new entity aims to become a leading provider of shareholder and regulatory technology. SS&C holds a minority stake and sees collaboration opportunities to enhance the investor experience. Nick Wright from SS&C has joined the board, reflecting the firm's commitment to innovation in financial services.
SS&C Technologies Holdings (Nasdaq: SSNC) reported that its GlobeOp Forward Redemption Indicator for December 2021 rose to 2.54%, an increase from 2.28% in November. This figure marks a significant drop from 3.95% a year prior and represents the lowest December redemptions since the Indicator's inception in 2008. Furthermore, 2021 saw the lowest annual redemption levels in the history of the Indicator. The report indicates strong investor confidence in hedge fund managers' capabilities amidst challenges posed by COVID-19 variants and inflation.
SS&C Technologies (Nasdaq: SSNC) announced that PKO Bank Polski has implemented its Fundamental Review of the Trading Book - Standardized Approach (FRTB-SA) solution to comply with upcoming Basel Committee regulations effective January 2023. With EUR 80 billion in assets, Poland's largest bank aims to enhance its risk management framework. The solution is set to streamline regulatory and internal risk calculations, improving efficiency and performance. SS&C's software offers rapid computation and flexibility, further solidifying its long-term partnership with PKO Bank Polski.
SS&C Technologies Holdings has announced a definitive agreement to acquire Hubwise Holdings Limited in an all-cash transaction, enhancing its presence in the U.K. B2B investment platform sector. Approved by Hubwise shareholders, the acquisition involves 58 employees and 51 customers and is expected to close in 2022, pending regulatory approvals. This strategic move aims to leverage SS&C's scale and digital services to strengthen its solutions for asset managers and wealth managers, addressing competitive pressures and boosting efficiency.
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