Germany’s Universal-Investment group, a fund service provider, has implemented SimCorp’s front-office system – called Dimension – to gain operational efficiencies.
Universal-Investment group is a German and Luxembourg platform for Ucits and alternative funds and will use Dimension – a system that SimCorp usually sells directly to asset managers – within its outsourcing services for asset managers and pension schemes.
The firm intends to use Dimension for more operational efficiencies in front office activities.
According to SimCorp, Universal-Investment will also use Dimension for its own “rules-based” €37 billion asset management activities, as well as for clients.
Ralf Schmücker, a managing director at SimCorp, said the market in third-party service providers to asset managers was “proving an attractive business opportunity” for the Dimension system.
Michael Reinhard, chief operations officer at Universal-Investment, said: “Going forward, SimCorp Dimension will enable us to operate more efficiently, claim a stronger position in the market and add the missing front office piece as an important component to our successful 360-degree servicing competence.”
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