Based on universally applicable collective agreements, SOKA-BAU’s corporate pension schemes are provided to all employees of the approximately 75,000 companies within the German construction industry. The introduction of SimCorp Dimension as the central system in SOKA-BAU’s investment management will support its goals to achieve greater automation, scalability to the fund’s future growth ambitions, and the flexibility to adapt to new, complex market conditions and requirements.
A key requirement in the selection of SimCorp Dimension is SOKA-BAU’s ability to use one multi-asset class solution to manage its entire range of investments across a range of front to back office functions, from portfolio management to accounting. The selection provides SOKA-BAU with a transparent process across the investment lifecycle and replaces a number of outdated systems and applications.
SimCorp Dimension will also provide SOKA-BAU with extensive risk management functionality, which will support the pension fund with efficient risk measurement of its portfolio. By using a single source of real-time data, powered by the system’s Investment Book of Record (IBOR), the solution will deliver better understanding of exposure and enable more accurate forecasting, safe-guarding the pensions of its members.
Maria Güntner, Head of Portfolio Management at SOKA-BAU, comments: "After a comprehensive selection process, SimCorp Dimension proved to be the most complete solution to meet our integration, automation and transparency requirements. Consolidating our system architecture onto one multi-asset class platform will significantly enhance our asset management capabilities, while reducing our operating costs. Ultimately, this allows us to serve our members and their needs more efficiently."
Alexander Hase, Vice President of Sales & Account Management, SimCorp Central Europe, said: "We are very pleased to welcome SOKA-BAU to our global community of pension funds and insurance companies. This partnership underlines the significant benefits of consolidated investment management for the pensions and insurance industry. We believe the integrated nature of SimCorp Dimension, in combination with our continuous development of the system, is the optimal approach for these firms, and provides the tools and services they need to meet current and future investment management needs."
Enquiries regarding this announcement should be addressed to:
Goetz Posner, SimCorp GmbH, +49 6172 92400, [email protected]
Mittal Shah, SimCorp UK/North America, +1 646 843 1707, [email protected]
Anders Crillesen, SimCorp Corporate Communications, +45 3544 6474, [email protected]
SimCorp provides integrated, best-in-class investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, and sovereign wealth funds. Whether deployed on premise or as an ASP solution, its core system, SimCorp Dimension, supports the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests more than 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on NASDAQ Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.
SOKA-BAU is the common umbrella brand for ‘Urlaubs- und Lohnausgleichskasse der Bauwirtschaft’ (ULAK) and ‘Zusatzversorgungskasse des Baugewerbes AG’ (ZVK). SOKA-BAU is a German-based pension fund with approximately 75.000 small and medium sized companies from the construction industry in its portfolio. Both ULAK and ZVK are institutions jointly managed by the social partners of the construction industry. In particular, the holiday scheme is an essential part of the construction law. As a service provider, the company takes care of the holiday scheme, the additional pensions in the construction industry and the financing of vocational training.