SimCorp has announced that BlueBay Asset Management, one of Europe's leading asset managers specializing in fixed income and alternative investment products, has selected SimCorp Dimension as its new investment management technology platform.
The firm, which is based in London and has over US$53.9 billion under management (as at 30 June 2013) for institutions and high net worth individuals, will use SimCorp Dimension to support trade processing, including derivatives clearing, investment book of record (IBOR), fund valuation, investment accounting, collateral management and data management.
BlueBay Asset Management selected SimCorp Dimension as a single solution to support its activities across a number of fixed income based asset classes, following a competitive tender process.
The new technology infrastructure will automate processes, reduce costs and provide flexibility and support for the firm’s next phase of growth. In addition, the integrated platform will help the asset manager meet regulatory requirements for increased and timely oversight of risk by replacing a number of legacy systems.
Commenting on the selection, Simon Lumsdon, Global Head of Technology at BlueBay Asset Management, said: “Since the launch of BlueBay Asset Management in 2001, and its subsequent acquisition by Royal Bank of Canada, our business has grown rapidly. To achieve our future ambitions we need a flexible and scalable technology platform which can grow with us, one that can support us in areas such as derivatives processing and collateral management, which is why we have chosen SimCorp Dimension. SimCorp’s track record in successfully implementing technology solutions for asset managers was another important deciding factor.”
Klaus Andersen, Managing Director at SimCorp Ltd. said: "We are delighted to be working with BlueBay Asset Management. An important factor in the firm's decision to work with us is our commitment to research and development and our semi-annual upgrade of SimCorp Dimension – which effectively provides all of our clients with a future proof investment management solution."
This press release expands upon the SimCorp company announcement no. 41/2013, 11 July 2013.
Enquiries regarding this announcement should be addressed to:
Sophia Morrell, +44 207 324 5487, [email protected]
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world's leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp's world-class software provides global financial organizations with the tools they need to mitigate risk, reduce cost and enable growth. SimCorp is a global company, regionally covering all of Europe, North America and Asia Pacific. Listed on the NASDAQ OMX Copenhagen, SimCorp is dedicated to supporting the global investment management industry, its clients and its investors. For more information about SimCorp's products, please visit www.simcorp.com/product.
About BlueBay Asset Management
BlueBay Asset Management was founded in 2001 and is one of Europe’s largest managers of fixed income credit and alternative products. Based in London, with offices in the US, Luxembourg, Hong Kong and Japan, the firm manages over US$53.9 billion (as at 30 June 2013) for institutions and high-net-worth individuals. BlueBay provides a combination of long-only and alternative debt strategies covering investment grade, high yield, convertibles and emerging markets. BlueBay Asset Management LLP is wholly-owned by Royal Bank of Canada and part of the RBC asset management division, RBC Global Asset Management group of businesses.
BlueBay Asset Management LLP is authorised and regulated by the Financial Conduct Authority.
BlueBay Asset Management selects SimCorp Dimension, replacing legacy systems
Integrated middle and back office technology platform to automate investment management processes