SimCorp announces that the global asset management company, Schroders, with US $276.2 billion under management as at 30 June 2007, has extended the use of SimCorp Dimension to include its Asia Pacific operation.
SimCorp Dimension will be installed as a regional system in Singapore, and will support operations in Singapore, Hong Kong, Japan, Indonesia and Australia.
Schroders' decision to consider SimCorp Dimension for its Asia Pacific operation was prompted by Schroders' UK recently choosing it to act as its portfolio book of record.
Schroders chose SimCorp Dimension after a comprehensive review of the system to determine if it could support its broader Asia Pacific business requirements.
In addition to being deployed as Schroders' Asia Pacific portfolio book of record, SimCorp Dimension will also be used to manage its back office activities including accounting, settlement and performance reporting across a broad range of asset classes that include equities, fixed income, money market, and derivative instruments.
"We chose SimCorp Dimension because it will enable us to extend our regional Investment Operations platform in Singapore and because of its strong support for derivatives," says Lilian Tham, Chief Operating Officer, Schroders Singapore. "These are essential in a business that is experiencing the strong growth that typifies this region."
"We are delighted to develop a global relationship with a company of Schroders' standing," says SimCorp Asia Managing Director, Peter Hill. "Schroders will be our tenth customer in Asia Pacific region, marking an exciting milestone for SimCorp Asia."