Curo Fund Services

Curo Fund Services operates as an investment administrator within the financial sector. Its core function involves providing administrative services to investment businesses, specifically handling the processing of investment instructions and generating portfolio price updates. This operational role supports associated investment firms by managing critical back-office functions necessary for fund management activities. The organisation serves markets connected to its founding partners and client investment businesses, primarily within the context of the South African financial landscape.

The organisation possesses a significant scale of operations, evidenced by its management of trillions of Rands in assets under administration. This substantial asset base underscores its importance within the investment infrastructure servicing major financial institutions. Curo Fund Services was established as a joint venture, founded collaboratively by several prominent financial firms, including Old Mutual, Sanlam, and FutureGrowth. Its distinguishing attribute lies in its specialised role as a centralised administrator, acting as a critical service provider handling essential processing tasks that enable the investment activities of its partner firms. A notable cybersecurity incident in January 2022 targeted Curo Fund Services' systems directly, causing a temporary lockdown that disrupted its ability to process instructions and deliver timely price updates. This disruption led to brief trading suspensions for some portfolios managed by the associated investment businesses. Forensic investigation confirmed the attack was contained within Curo Fund Services' own infrastructure, without breaching the security perimeters of its partner firms or compromising any retail or customer sensitive data, which resides solely with the investment firms themselves. Remedial actions were swiftly implemented to minimise client impact following the incident.