SunGard today announced that Bank of Ireland Securities Services (BoISS), the fund administration and custody arm of Bank of Ireland Group, has successfully implemented Asset Arena Investment Accounting, SunGard's investment accounting and reporting technology platform.
BoISS has successfully transitioned its institutional, retail and alternative investment clients, who span a wide variety of fund types and investment strategies, to the new system.
BoISS currently has over $180 billion in assets under custody and administration. The types of funds incorporated in the system migration include exchange traded funds, multi-manager funds, property funds, hedge funds and fund-of-hedge funds, as well as mutual funds, money market funds, and structured products for a range of off-shore and on-shore structures.
In addition to migrating its clients' funds from the incumbent system to Asset Arena Investment Accounting, BoISS continues to launch new business directly onto the system. The new technology will help BoISS to expand its fund administration offerings to incorporate broader servicing capabilities and achieve greater operational efficiency.
"We needed to provide more extensive coverage of asset types and product structures while also realizing increases in operational efficiency. With Asset Arena, we expect to see future benefits beyond those that we have already recognized," said Liam Manahan, managing director of BoISS. "SunGard has been a trusted and vital partner in managing a seamless transition, and we look forward to continuing the close working relationship that has been established between our organizations."
Doug Morgan, president of SunGard's institutional asset management business, commented: "Our investment in functional enhancements and new technology has made Asset Arena an ideal platform for Bank of Ireland Securities Services. Working in active collaboration with the customer, we have succeeded in delivering a solution that is well aligned with the customer's specific business needs and capable of supporting future growth."