The BNP IP Fund Migration from GP3 to Multifonds was the first of its kind in the market and after 18 months is coming to a successful conclusion. The project marked a milestone. It was the first time cloned funds were migrated to a pooling structure. The complexity of these funds’ structure, untested nature and aggressive time schedule, on top of the challenging requirements of a normal migration, demanded the specialty knowledge of acarda’s business and IT specialist.

The migration was made possible by acarda’s specialty tool, the acarda Migration and Reconciliation Suite (amicon). amicon sat at the core of the migration. It not only automated the main tasks of the process but provided BNP’s fund accountants with increased transparency and control. The dashboard feature gave each accountant an individualised view of the progress of their respective funds. A customisable and extensive reconciliation report served as the main tool to understand and resolve discrepancies.

The numbers of migrated and reconciled funds speak for themselves:

• 362 Luxembourg funds
• 201 Third Party funds
• 36 funds with master-segment-structure

With amicon deployed, tested and optimised, BNP is ready for the next round of efficient fund migrations in Europe. Even new source systems, formats and requirements can be integrated and parameterised into the already proven and familiar system.

amicon is not the whole story. acarda's experts played a leading role. Our participation extended beyond not only supporting our tool during every migration event but working in close partnership with BNP's project teams across every aspect of the migration. BNP benefited from acarda's accumulated knowledge made possible by its deep and varied history of successful migration projects.