Following the implementation of the SimCorp Dimension investment management system at DIAM International in London in October 2007, the firm has benefited immediately in two key areas.
It has automated pre-trade compliance monitoring and it has a more flexible client reporting tool. Many further improvements are anticipated in the future using the new platform.
DIAM International, the London-based division of the major Japanese pension fund asset manager, DIAM, selected the SimCorp Dimension investment management system after a comprehensive review of the market in front and back office systems. The switch to the seamless, front to back office processing system has led to greater flexibility and efficiency for the future while ensuring continued firm control of the day to day running of DIAM International's business.
Implementation commenced in November 2006 with a detailed analysis phase to ensure the best configuration. The system went live in less than a year. "It was a demanding but well implemented project," says Jan Weber, DIAM International's chief financial officer.
Primary considerations when choosing a system were compliance and reporting. Both these issues have been addressed. Compliance rules are now checked automatically pre-trade by the system; and client reports, are now generated directly from SimCorp Dimension's core Oracle database using the standard report writing tool, Crystal Reports.
For DIAM International, the accommodation of its future needs is one of the greatest benefits of the new system. With all functionality based around a core database, implementation of new functions in SimCorp Dimension is very straightforward. New functionality can be added without the need for new databases or interfaces. As Weber explains, "We're confident we'll be able to meet the future requirements of our clients and maintain our strict operating controls. For example we may bring performance measurement and attribution in-house, which would not have been practical before we had SimCorp Dimension. Overall we have a system in place which caters for our needs, both now and going into the future."
"We have very much enjoyed woryed working with DIAM International and are delighted that they have already realised desired benefits from their SimCorp Dimension system," says Elizabeth Gee, SimCorp Ltd's sales director. "This is a good example of the type of partnership we like to have with our clients and look forward to continuing this into the future."