SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), a global provider of financial services software and software-enabled services, today announced that Virtus Investment Partners (NASDAQ: VRTS) has chosen SS&C to provide middle- and back-office services for approximately $20 billion of separately managed, institutional and closed-end fund assets.
Virtus, a partnership of boutique investment managers, will use SS&C's dedicated outsourcing services and leading technology, Global Wealth Platform and other related technologies to support the unique and specific requirements of its affiliated asset managers. Services include support for account opening, order design and trading, true multi-currency accounting, performance measurement and attribution and web based client reporting.
"Partnering with SS&C on middle- and back-office services will give Virtus a flexible and scalable operational platform to support our current investment management activities and our long-term growth needs," said Frank Waltman, Executive Vice President, Product Management, at Virtus. "We chose SS&C because of their depth and breadth of expertise in this area and their ability to support our distinctive business model, which provides our affiliates access to best-in-class technology support that is customized to their specific needs."
"Virtus has done a superb job of growing its assets and adding distinctive managers into its partnership. Having diverse, high performing managers is a recipe for success and SS&C is very pleased to be selected to deliver a comprehensive solution," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Our investment operations services team, underpinned by world-class technology, helps asset managers execute business strategies better, faster and more predictably."