IGEFI Group -- a provider of software solutions for international fund promoters, third-party service providers and fund managers -- has opened an office in Singapore to service clients using its MultiFonds software applications in Asia-Pacific as well as to attract new ones.

To head up the regional professional services business, IGEFI has hired Sandra Puah, who has spent a number of years in the funds industry, most recently managing a group of around 70 accountants in Citibank's Singapore office working with the MultiFonds Fund Accounting application.

Puah's knowledge of MultiFonds, the regional fund industry and the local players in this field make her the ideal person to lead IGEFI's Asia-Pacific operations, according to Bertil Rouveure, Luxembourg-based CEO of IGEFI Group.

Over the years, Puah has been exposed to different fund products such as Singapore unit trusts, Hong Kong Mandatory Provident Fund portfolios, pension funds and investment-linked products. She is also familiar with a variety of other fund structures such as multi-class, multi-managers and fund of funds.

MultiFonds is operational in more than 25 countries globally and supports investment funds assets in excess of $2 trillion.

MultiFonds Fund Accounting and MultiFonds Transfer Agency are developed on a "one system-one database" philosophy and provide reduced overhead and IT support costs and single look and feel reporting for global clients. Both MultiFonds applications are multi-currency, multi-lingual real-time systems. Their architecture and use of leading industry standard development tools ensure almost limitless scalability. Extensive use of user-definable parameters and relational database architecture guarantees ongoing system flexibility to meet new product, business and regulatory demands.

IGEFI has more than 250 staff supporting clients from eight offices worldwide including Bangalore, Boston, Frankfurt, Geneva, London, Luxembourg, Paris and now Singapore.