Gemini Fund Services has begun switching to a new mutual fund accounting system.

Andrew Rogers Gemini Fund Services Chief Executive Officer

Kevin Wolf, president of Gemini, confirmed the shift this morning in a session at the 2015 Gemini Companies Advisor Forum, part of the 2015 NorthStar Summit put on at the Gaylord Opryland resort in Nashville, Tennessee by Gemini's parent company.

Gemini has used PAM, a fund accounting system from State Street. Wolf described PAM as "a very sound system" that took Gemini "very far," yet he added that clients are now looking for more than just NAVs.

"We're moving to InvestOne, a SunGard system," Wolf said. "We've begun migrating. We have now moved about 50 funds onto the InvestOne platform."

Wolf expects to have 200 funds moved by the end of 2015, and he plans to have the whole conversion complete during the summer of 2016.

"It should offer you a better reporting environment going forward," Wolf said.

Andrew Rogers, CEO of Gemini, tells MFWire that the InvestOne shift will allow Gemini's fundster clients to use a StatPro portfolio reporting overlay. That, he says, will give fundsters a better view of what's happening inside the portfolio on a daily basis.

"We're trying to really raise our game," Rogers says. "It really puts a lot of power in the advisor's [i.e. fund firm's] desktop ... StatPro is a good way to take advantage of a great system."

Gemini works with about $40 billion in assets in about 375 mutual funds, about 60 529 pools, and about 40 hedge funds, Rogers says. The firm works with 200 mutual fund shops, hedge fund firms, and other investment advisors. 

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