01.09.2014
By Terry Flanagan

Eagle Asset Management Taps SimCorp Platform

Eagle Asset Management, which manages $30 billion in assets through separately managed accounts and mutual-fund products, has gone live with SimCorp Dimension, an investment management platform.

Eagle selected SimCorp Dimension for the ability to consolidate data from disparate sources and investment workflows on a single platform. “Increased regulation, client demand for transparency, real-time reporting and the ability to support and take advantage of new growth opportunities helped guide us to this solution,” said Steven Ballard, vice president of IT at Eagle Asset Management.

Having an integrated platform with front-to-back office capabilities that taps into a single repository of high-quality position data across all asset classes will allow Eagle to consolidate previous discrete platforms, streamline investment workflows, strengthen compliance checks and provide more client reporting options. “Eagle is committed to meeting the complex needs of our sophisticated clients,” said Ballard. “This platform provides flexibility and capacity to adapt as their needs expand and evolve.”

David Kubersky, managing director of SimCorp North America, said: “Asset managers today can no longer risk relying on legacy investment management systems. With uncertain markets and stiff regulatory requirements, buy-side firms that evaluate and transform their systems are the ones who will stay ahead of the competition. We are pleased to partner with Eagle as the investment manager future-proofs the business and embraces technology as an enabler of growth.”

Portfolio management and accounting solutions are now the core infrastructure of money management firms of any type, according to Aite Group.

Aite Group research shows that vendors of integrated portfolio suites with trading capabilities tend to be large, established providers with significant numbers of clients and multiple product lines.

“Clients of integrated suites are generating the highest take-up of hosted deployments across this technology segment,” said Denise Valentine, senior analyst in Institutional Securities & Investments at Aite Group.

“While growth in the number of clients of full-suite adoptions is running at 17% over the last five years, revenue is not growing as fast due to competitive and client price pressures,” Valentine said. “We are still seeing positive market growth opportunities in Europe and Asia as well as in countries such as Brazil, China, and South Africa, so integrated portfolio system suite providers are certainly continuing to expand their global footprint of clients.”

The integrated portfolio suite segment’s global market size is US$438 million, and Aite Group expects this market to grow to US$471 million by 2017 at an annual average growth rate of 1.9%.

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