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Rating:Ray J's Mutual Fund Arm Taps Simcorp Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 04, 2012

Ray J's Mutual Fund Arm Taps Simcorp

Reported by Armie Margaret Lee

Eagle Asset Management [see profile] has turned to software vendor SimCorp to replace its legacy investment accounting, performance and client reporting systems.

The St. Petersburg, Florida-based Raymond James Financnial subsidiary is using the SimCorp Dimension enterprise solution for investment management.

Eagle officials said they made the decision to go with Simcorp Dimension because it can consolidate data from different sources and investment sources on a single platform.

"In our evaluation, we looked for robust state-of-the-art technology designed to help us react to changes in business and product direction," Steven Ballard, vice president of IT at Eagle, in a press release. "SimCorp met these criteria but further differentiated itself with a platform architecture designed with a good deal of flexibility."


Company Press Release

Eagle Asset Management Selects SimCorp for Investment Accounting, Performance and Client Reporting

– Firm will benefit from system consolidation, streamlined processes and more client reporting options

New York – January 4, 2012 – SimCorp, a leading provider of highly specialized software and expertise for the investment industry, today announced that Eagle Asset Management, has selected SimCorp Dimension, an enterprise solution for investment management.

Eagle Asset Management is a leading institutional and retail asset management firm, offering an array of equity and fixed income managed accounts and mutual funds designed to meet long-term goals. Headquartered in St. Petersburg, Florida, the firm was looking for a comprehensive single system that could replace the firm’s legacy investment accounting, performance and client reporting systems.

"As we undertake strategic initiatives to differentiate our products and service offerings, we depend on solid technology that can keep pace with our organizational goals and the market dynamics," comments Steven Ballard, Vice President of IT at Eagle Asset Management. "In our evaluation, we looked for robust state-of-the-art technology designed to help us react to changes in business and product direction. SimCorp met these criteria but further differentiated itself with a platform architecture designed with a good deal of flexibility."

After careful review, Eagle Asset Management selected SimCorp Dimension due to the ability to consolidate data from disparate sources and investment workflows on a single platform. SimCorp Dimension will allow Eagle Asset Management to capture the most granular level of data in a single database which in turn delivers better data quality and accurate client reporting.

David Kubersky, Managing Director for SimCorp North America, stated, "We are extremely proud to add a firm the caliber of Eagle Asset Management to our growing list of clients. Eagle Asset Management's selection of SimCorp is a reflection of the broader market's need for platforms that support transparency throughout the trade life cycle, especially in the wake of new regulatory reforms."
 

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