28.06.2016 - The State Oil Fund of the Republic of Azerbaijan successfully completes implementation of SimCorp Dimension
SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has successfully completed the implementation of SimCorp Dimension. The implementation provides SOFAZ with a fully integrated portfolio management, investment book of record (IBOR), and accounting system, covering front, middle, and back office, which allows the sovereign wealth fund to automate and streamline its financial portfolio management activities. SOFAZís assets under management has increased from less than USD 1.5bn ten years ago to over USD 34bn today, and since then the complexity and diversity of the financial instruments the fund is investing in have increased significantly. (Press Release)