Investment Operations & Internalisation

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.