Fund Administration & Member Services
Improve administration, workflow, service, cost-to-serve and member experience.
Superannuation & Pensions
Investment Operations & Internalisation
Build the infrastructure and operating model for in-house investment capability.
Overview
What this means for your business.
Internalisation brings new responsibilities for the investment platforms, operations, information and controls retained within a fund.
Capmark helps funds develop trading, treasury, liquidity and middle-office capabilities alongside the data and interfaces connecting custody and fund accounting.
Our support spans the business case and operating model through platform implementation and portfolio transition, including the improvement of existing in-house capabilities.
What we do
The expertise we bring.
We design the target operating model for an internalised investment function: which capabilities to build in-house and which to keep external, how dealing, treasury and middle office are organised, and the platform, data and control responsibilities each choice carries.
We select and implement the trading and treasury platforms an internal desk runs on, configured for the fund's asset mix and connected to custodian, fund accountant and market counterparties. Implementation runs front to back, from dealing through settlement to accounting.
We build the middle office the internal function depends on: trade lifecycle processing, position and cash management, valuations, performance measurement, and daily reconciliation of the fund's own records with custodian and fund accountant data.
Externally managed portfolios move in-house in planned tranches, with positions, cash and accruals reconciled at every step and external managers, custodian and transition managers coordinated to a single plan. A$10 billion of portfolios have been internalised this way.
We stand up the operational spine of the desk — settlement, confirmations, collateral, and broker and counterparty arrangements — with first-line controls across dealing, valuation and cash built into daily routines from the first day of live trading.
Senior delivery leadership across the vendor, custodian, external managers and the fund's own teams, from design through build, testing and rehearsal to go-live, then through stabilisation until the function runs to its operating rhythm under its own control.
What to expect
A team shaped around the work.
Most engagements begin with the operating model and platform decisions. A small senior team then works on-site with the fund's investment and operations teams; the migration is sequenced in tranches with reconciliation evidence at each step; and we stay through go-live and stabilisation until the internal function runs on its own.
Engagements range from a short internalisation review to full platform implementation and portfolio migration.
01
Assess
Establish the current state, the constraints, the risks and the value at stake.
02
Define
Shape the target model and the business case with the executives who own the outcome.
03
Mobilise
Stand up the team, the plan and the governance around the outcome.
04
Implement
Design, build and test the change, with the business alongside.
05
Sustain
Cutover, hypercare and handover, so the business runs it under its own control.
The same five stages on every engagement, led by senior practitioners end to end. How we work
Insights
Related perspectives.
Get in touch
Talk to a Partner about Investment Operations & Internalisation.
Tell us what needs to change and where the pressure or risk is showing.