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By Beverly Chandler, Opalesque London:
Australian global investment manager Industry Funds Management with A$30 billion ($29 billion) under management has selected SunGard’s Investran and VPM systems to support their back office accounting and reporting. IFM manages money across four asset classes: infrastructure; private equity; debt investments and listed equity portfolios.
Tim Green, head of SunGard’s alternative investment business, explains that this new business is particularly exciting for SunGard. "Not only did we win the deal but we have won a deal that would normally have gone to a more traditional service provider in this space. We have been talking about the convergence of the more traditional asset classes with those in the alternative world and this deal confirms our thoughts," Green says.
SunGard first started talking to IFM in 2008. "We started in the back office and saw that we had the technology to offer a single solution for all asset classes," says Green. "Now we have seen this convergence and we are more focused than ever, realising that the opportunities don’t just lie in the alternatives world."
IFM is owned by 32 not for profit superannuation funds in Australia, a country that sees contributions to superannuation funds running at 8 or 9%. SunGard’s Investran helps automate front-, middle- and back-office processes for private equity and other illiquid asset class investment firms. SunGard’s VPM is a multi-currency, multi-asset portfoli...................... To view our full article Click here
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