PSERS selects SimCorp for multi-asset investment coverage
SimCorp, a provider of investment management solutions and services to the global financial services industry, has signed a license agreement with Pennsylvania Public School Employees’ Retirement System (PSERS), to form the foundation for its middle and back office investment operations.
PSERS has chosen SimCorp’s cloud-based solution, SimCorp Dimension as-a-service, to deliver multi-asset class investment management support and transparency.
Having witnessed steady growth over the years and with an AUM of USD59.1 billion, PSERS, which serves the public school employees of the Commonwealth of Pennsylvania, has set a clear ambition for future growth. The selection of SimCorp Dimension’s Investment Book of Record (IBOR) sees the pension fund benefit from enhanced automation and consolidation of data from multiple disparate sources, into one accurate, real-time data source.
Once implemented, the IBOR will provide PSERS with a single system for its middle and back office operational needs, including deeper analytics and optimised investment decision-making. Additionally, SimCorp provides its market-leading alternatives solution, Alternative Investments Manager, combining alternative assets, such as private equity, real estate and infrastructure, into one single platform. While its integration to the ABOR (Accounting Book of Record) provides full transparency of underlying holdings, across middle and back office processing.
“SimCorp Dimension will allow PSERS to join other large state pension systems and state treasury departments in implementing an integrated IBOR to improve operations,” says John Kemp, PSERS Managing Director of Investment Operations and Risk. “PSERS’ operations professionals have been called upon to support a growing number of portfolios, trades, positions, and complex investment strategies as our investment program has evolved, and this trend is expected to continue into the future.”
James Corrigan, Executive Vice President and Managing Director of SimCorp North America, s
ays: “We are very happy to welcome Pennsylvania Public School Employees’ Retirement System to the fast-growing community of North American pension plans choosing SimCorp Dimension, as the foundation for multi-asset class investment operations. The agreement underlines SimCorp’s leadership in serving North American asset owners with the consolidated investment management solutions required, to address both operational efficiency and future growth. Our continued investment into alternative investments also forms a significant part of this success, as asset owners seek operational support for this growing yet challenging asset class.”