Strategic Asset Management Solutions (Sams), a provider of performance and attribution analysis services to asset management firms, has completed a second round of funding from LDC, the private equity arm of Lloyds TSB Group.
London-based Sams says the funding will allow it to invest in increasing its distribution in Europe and to expand to the US.
The firm has now completed development of its front office product Socrates, which is used by 15 asset managers in Europe. The suite includes data warehousing, equities and fixed income attribution as well as composites and Global Investment Performance Standards (GIPS) compliance.
Colin Fox, managing director, Sams, says: "Our pipeline is already starting to show signs of improvement and this will ensure we are well positioned as the market requirement for daily attribution starts to build."