SimCorp has extended its North American client base through a licence agreement with Pennsylvania Public School Employees’ Retirement System (PSERS), which will use the vendor’s cloud-based Dimension as-a-service solution to deliver multi-asset class investment management support and transparency.
Also key to the agreement is SimCorp Dimension’s Investment Book of Record (IBOR), which will help the pension fund enhance automation and consolidation of data from multiple disparate sources into one real-time data source. It will also support a single system for middle and back office operational needs, including deeper analytics and optimised investment decision making.
The provision of SimCorp’s alternatives solution, Alternative Investments Manager, will combine alternative assets, such as private equity, real estate and infrastructure, into one platform, while integration with the Accounting Book of Record (ABOR) will offer transparency of underlying holdings across middle and back office processing.
John Kemp, managing director of investment operations and risk at PSERS, says: “SimCorp Dimension will allow PSERS to join other large state pension systems and state treasury departments in implementing an integrated IBOR to improve operations. Our operations professionals have had to support a growing number of portfolios, trades, positions, and complex investment strategies as our investment program has evolved, and this trend is expected to continue into the future.”
James Corrigan, executive vice president and managing director of SimCorp North America, says PSERS adds to a growing community of North American pension plans choosing Dimension for multi-asset class investment operations. He adds: “Continued investment into alternative investments forms part of this success, as asset owners seek operational support for this growing yet challenging asset class.”