WestAM Focus on Investment Processes with Misys Asset Management Systems
WestAM implements Apollo for Institutional Management
London, 21 October 2003– WestAM is implementing Apollo for Institutional Management, a best-of-breed portfolio management system, from Misys Asset Management Systems – a global solution provider for the asset management community. Apollo for Institutional Management was chosen because of its ability to support WestAM’s global asset management requirements in Europe and Asia. It will initially be used in the UK and Germany by WestLB’s asset management division to provide a fund-centric tool to support its investment management process.
Misys Asset Management Systems will work closely with WestAM on a phased implementation to replace the existing investment process system. It is intended that Apollo for Institutional Management will go live in 2004 - improving the information available to WestAM’s fund managers by utilising all asset classes with increased sophistication.
Bob Adams, global head of IT, WestAM, says: “Misys Asset Management Systems understands the intricate nature of the institutional business. The technical architecture of Apollo is based on a coherent and convincing design. And when it’s fully live, the functional coverage will help our fund managers to perform all aspects of their daily activities with much greater efficiency and accuracy.”
Adams concludes: “An important factor is that Misys Asset Management Systems is working to become KAGG accredited. Apollo will have the required functionality to support a comprehensive suite of regulatory compliance rules for the German market. ”
Shaun Crowley, Misys Asset Management Systems’ head of sales for Apollo says: “To perform in today’s tough investment market, asset managers need to combine diverse instrument types for a more risk-balanced approach. Our aim is to let WestAM focus on delivering investment performance, whilst we provide a fund-centric tool that supports the complex investment techniques now being embraced. “
Apollo for Institutional Management has been developed from the fund manager’s perspective whilst fully encompassing the operational requirements of today’s asset management business. It can provide functionality from order management to corporate action processing and reconciliation, while retaining its focus as a portfolio management system – streamlining operations without increasing risk.
The strength of Apollo was further acknowledged by winning the ‘Portfolio Management Solution Award’ at The Banker Technology Awards 2003. The Banker awarded Apollo for its front office client management activities, and also its middle office requirements of reconciliations and control type activities. The judges liked its capability to handle multiple instruments such as OTC contracts, bonds, equity and derivatives, but also the automatic processing of corporate actions.
For further information:
Becky Richardson / Adelaide Harrison
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Tel: + 44 (0) 207 959 5529/5520
Peter McKenna
Misys Asset Management Systems
Tel: +44 (0) 207 757 6538
Misys Asset Management Systems Ltd is the leading supplier of IT solutions to the global asset management industry. It provides solutions and services globally for client companies who manage financial assets on behalf of their customers. Misys Asset Management Systems enable fund managers and operations managers to control tens of billions of pounds of private and institutional wealth.
With an exceptional client base – comprised of many of the leading asset managers - Misys Asset Management Systems’ technical and business experts operate at the leading edge of both fund management theory, and operational practice design. They develop, implement and support a range of proven and reliable investment and operations process products, which can standalone or be integrated to provide end-to-end solutions.
Specific products and service information can be found at www.misys-ams.com
Misys Asset Management Systems is part of the Misys Group, which has been listed on the London Stock Exchange since 1989.
Misys plc, one of the world's largest software solutions companies, serves customers in the international banking and securities, US healthcare, and UK retail financial services sectors. Employing over 6,500 staff, the group partners with its customers to deliver outstanding products to essential industries. Misys reported revenues in excess of £1 billion ($1.5 billion) for the year ended 31 May 2003.
