With the help of iCapital’s new Distributed Ledger Technology (DLT), the finance sector now has easier access to alternative investments as the company launched its first fund.
Distribution of the fund is handled by UBS Wealth Management.
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This is a big technological advance that will allow the alternative investment experience to scale and be connected in real time.
With this milestone launch, iCapital continues to fulfil its promise to invest in technology, which offers over 100,000 financial advisers in the US efficiency in operation and ease.
The DLT from iCapital is intended to improve and streamline alternative investment lifecycle management. By bringing together important financial stakeholders and facilitating smooth data sharing and transaction processing, it seeks to promote a safer and more effective environment for managing alternative investments.
Over the course of a typical private capital fund, this ledger system is anticipated to avoid over 100,000 activity reconciliations, increase data processing efficiency and visibility, lower mistake rates, and improve overall investment handling.
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By GlobalDataTherefore, in addition to saving clients countless hours of labour-intensive manual data reconciliation and version sharing, iCapital’s DLT is anticipated to significantly reduce costs and increase productivity while also lowering the dangers involved in human data entry.
Moreover, UBS Wealth Management distributes the first fund, administered by Gen II, using iCapital’s DLT for all lifecycle activities, automating data connectivity and minimising manual reconciliation.
“This is an important step forward in creating greater efficiency and improving fund data quality,” said Jerry Pascucci, co-head of global alternative investment solutions for UBS Global Wealth Management.
“We are continuously striving to make it easier for our financial advisors to manage and monitor their clients’ alternative investment holdings.”
Lawrence Calcano, Chairman and CEO of iCapital added: “Distributed ledger technology represents a significant milestone for iCapital’s innovation. Our technological commitment and experience position us to spearhead this advancement in support of our clients’ investment lifecycle activities. We are dedicated to optimising the entire alternative investing experience, enabling fund managers and wealth advisers to operate with efficiency, precision, and ease. We’re excited to collaborate with UBS as our distribution partner for the milestone launch of the first fund using iCapital’s Distributed Ledger Technology. Additionally, we look forward to launching more funds with other partners in the coming months.”
