SimCorp and a current client and leading investment manager based in APAC have today signed a non-binding Memorandum of Understanding (MOU) setting out the main terms for entering into a strategic business partnership between the parties. The intention being to form a new company to provide a premier, fully integrated, front-to-back investment administration services for asset managers and asset owners in Australia, New Zealand, and Asia.
Upon the translation of the MOU into a final strategic agreement, such agreement will become a "large contract" for SimCorp’s software and services, including SimCorp Dimension, data management, cloud, investment accounting services and managed services, and SimCorp will disclose a separate company announcement about this.
Furthermore, SimCorp will as part of the formation of the new company make a minority investment in the jointly held legal entity which will undertake investment administration operations in Australia, New Zealand, and Asia.
SimCorp expects to send out a press release within a week’s time of this announcement setting out a more detailed description of the strategic partnership.
Enquiries regarding this announcement should be addressed to:
Christian Kromann, Chief Executive Officer, SimCorp A/S (+45 2810 9090)
Michael Rosenvold, Chief Financial Officer, SimCorp A/S (+45 5235 0000)