China Life Asset Management Corporation (CLAMC) has completed the rollout of DST International’s (DSTi’s) HiPortfolio/3 investment accounting solution. The firm, which is one of the largest institutional investors in China, opted to implement the solution with a view to increasing its STP and allowing its managers to more effectively monitor their portfolios.
Zhang Feng Min, CLAMC’s executive vice president of IT, settlement and portfolio management, explains the selection process for the solution: “We considered all the alternatives, both domestic and international, for the solution that would meet our immediate investment accounting needs. We also required that it provides the important foundation for further growth in our overall technology platform for investment management, including supporting needs from our portfolio management, performance and risk control perspectives.”
According to Tom Abraham, CEO of the vendor, DSTi had to work closely with a number of CLAMC’s internal departments because of the complexity of the project, which he describes as the “biggest and most complex thus far in China”. In particular, it involved handling complex valuation methodologies that are specific to the Chinese market, says the vendor.
The vendor claims that as a result of the implementation, CLAMC’s accounts department’s capacity has increased fourfold. The solution also provides full transaction records covering transactions executed on the stock exchanges and OTC markets, as well as cash movements within portfolios, which the vendor says allows for accurate performance reporting.