Urdorf, 10 September 2015 | Luxembourg-based fund administration and service company navAXX S.A. (navAXX) has decided to implement XENTIS as its central application for fund administration. The decisive factors in this decision were XENTIS' extensive capabilities for automating business processes and mapping regulatory reporting.

navAXX will use the integrated investment management system XENTIS to administer more than EUR 4.6 billion in over 120 funds launched in Luxembourg and Germany. By using this solution, which has already proven itself many times with other financial service providers, navAXX aims to optimise its workflows. The smooth handling of order routing, ex-ante and ex-post investment compliance checks, matching, settlement and reconciliation via SWIFT and fund accounting were key criteria in the selection of XENTIS. In addition, XENTIS meets all the Luxembourg, German and Austrian reporting requirements applicable to navAXX. These include reports to the Commission de Surveillance du Secteur Financier (CSSF) and the Banque Centrale du Luxembourg (BCL), as well as solvency and capital gains tax (KESt) reports and Alternative Investment Fund Managers Directive (AIFMD) reporting.

Profidata will also relieve navAXX of its day-to-day business by providing additional services, such as monitoring market and master data processing and maintaining the investment compliance rule sets for Luxembourg (Undertakings for Collective Investment in Transferable Securities Directive – UCITS) and Germany (Capital Investment Act – KAGB).

Joachim Hennen and Thomas Spinner, Managing Directors of navAXX S.A., emphasise: "The expansion of our business model while maintaining the high quality of our customer services, the restrictive regulatory conditions and automated process control require the use of a professional and efficient software solution. XENTIS is the answer to our requirements."

Christian Widmer, CEO and Chairman of the Board of Directors of Profidata Group, emphasises: "With navAXX, we are gaining another important customer in Luxembourg who is convinced of our software and service offering. XENTIS completely covers the functional and technical needs of fund administrators and other financial service providers. The system can respond quickly to regulatory changes, as the structural components of the software allow for adequate parameterisation, thus largely eliminating the need for new developments."

navAXX S.A., Grevenmacher (Luxembourg)

navAXX S.A. is a young and ambitious service provider in the Luxembourg fund industry and an independent subsidiary of the renowned asset management company Axxion S.A. It offers intelligent and customer-oriented services in the area of fund administration. These include comprehensive fund accounting, the entire transfer agency business and tailor-made reporting.
As a central administration agency, it manages more than EUR 4.6 billion in over 120 funds and works with several reputable custodians in Luxembourg and Germany. In its capacity as a registrar and transfer agent, navAXX S.A. acts as a competent service provider for several thousand private and institutional clients. As a "Professionnel du Secteur Financier" (PSF), navAXX S.A. is subject to supervision by the Luxembourg banking supervisory authority CSSF. Further information can be found at www.navaxx.lu.

Profidata Group

Founded in Switzerland in 1985, the independent Profidata Group develops investment and wealth management software for financial service providers and offers comprehensive services for its XENTIS and e-AMIS software products. The company is headquartered in Zurich and has offices and representatives in Vaduz, Frankfurt am Main, Saarbrücken, Luxembourg, London and Singapore.

Further information can be found at www.profidatagroup.com.

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