ISIS Asset Management has expanding the use of DST International’s products throughout its entire fund management operation, including the HiData data management solution as well as the related HiInvest front office system, HiMessaging STP and HiPortfolio back office solution, which will be used to support its outsourcing services for Friends Provident.
ISIS worked with DST in the specification and development of the HiData and HiPerformance components of the suite. HiData automates the collection, checking and validation of data, with interfaces to a range of industry-standard data vendors. Data cleansing rules are user-configurable and different policies can be assigned according to asset type. DST claims that existing users of HiData are seeing 98 per cent of their securities ‘verified first time’ and overall cost reductions of 50 per cent.
Once use of HiInvest is expanded across the complete fund management and central dealing operation, ISIS will use DSTi products for almost all of its front-to-back office process control systems. The company was formed from the merger of Friends Ivory & Sime and Royal Sun Alliance Investments, which had previously used parts of the DST suite.