DST Global Solutions today announced that Advantage Asset Managers (AAM), one of South Africa’s multi-managers, has become the first company worldwide to implement DST Global Solutions’ new unit pricing workbench software, the latest addition to its HiPortfolio suite of products.
David Wakerley, chief technical officer of AAM, said: “We needed an application that would enable us to do automated price verification of some 1000 portfolios priced by us on a daily basis. Our aim was to eliminate or significantly reduce any manual intervention, thus reducing risk and allowing scalability of the pricing platform.”
Wakerley continued: “In addition, it was important that the new software was easily integrated with our current HiPortfolio implementation and could be customised for our purposes. The new system is now live and we are very pleased with the capability it is providing for us. The average time to confirm prices has been reduced by as much as 60%.”
Kathy Burke, sales manager of DST Global Solutions South Africa, said: “We are delighted to have delivered the first global implementation of our new software. AAM is a long established client of ours and we are proud to have their prestigious name on our customer base.”
AAM, a subsidiary of Momentum Life, is one of South Africa’s independent multi-managers, managing Balanced Funds for pension fund clients using specialist equity, bond and cash manager mandates. AAM manages its portfolios in accordance with a clearly defined risk-budgeting strategy, tailored to the liability requirements of their clients.