Industry Funds Management (IFM), a leading global investment manager has selected SunGard’s Investran and VPM solutions to help streamline and enhance back-office accounting across all of its investment products and portfolios. IFM manages over A$30 billion across four asset classes: infrastructure, private equity, debt investments and listed equity portfolios.
SunGard’s Investran, an award winning application suite, 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 portfolio accounting and reporting solution for the complete range of liquid assets and their derivatives. The combined solution will provide IFM with a single platform to support the full spectrum of its asset coverage.
The integration between Investran and VPM will help ensure that IFM manages all of its portfolio and partnership accounting and reporting responsibilities with equal levels of precision and efficiency in both its more traditional and alternative strategies. The combined solution supports the full spectrum of IFM’s liquid and illiquid asset classes, helping the firm continue its expansion without constraints by asset class, strategy or complexity.
The collective accounting and reporting features within the combined SunGard solution will help provide IFM with greater data integrity and transparency, as well as access to a complete audit trail for accuracy, control and reliability. Investran will help IFM monitor current closed-ended and illiquid investments more efficiently, manage investor allocations and automate the accounting workflow. Investran will also help IFM expand, enhance and automate reporting and performance analysis. VPM was selected for its robust accounting, highly granular position keeping and reporting capabilities, through which it helps enhance availability of data through, including click-through reporting, interactive data mining, and intuitive presentation of information.
“The IFM business is far more complex than it was when it last implemented a fund administration system in 2001. Since 2001, IFM has seen 1,100% growth in products, 2,500% growth in FUM, 714% in staff and 217% growth in clients across three geographies,” said Philip Dowman, executive, finance and operations at IFM. “With this growth, the analysis requirements by our investment teams, for clients, asset consultants, marketing and for the regulators, have also increased. To support this growth, the Board of IFM has chosen SunGard to implement improved system capabilities to help improve the provision of investment information to its clients and help IFM effectively and efficiently deliver on its key strategic goals.”
“IFM joins a growing number of customers who are seeking to support historically diverse and siloed investment strategies within a central back office,” said Tim Green, head of alternative investments in SunGard’s asset management business. SunGard services the industry’s leading hedge funds, private equity firms and investment managers which utilize our solutions to help streamline operations, reduce operating risks and manage back-office administration.”
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