M&G is one of the oldest and one of the largest retail fund managers in the UK and specialises in investment management. M&G introduced Britain's first ever unit trust in 1931 and has continued to launch groundbreaking investment products ever since.

Rhyme Systems specialises in helping UK and international investment firms unlock the hidden value of the back office.

Quasar includes investment management functions to support clients including Jupiter, Newton, Rathbone and Coutts.

David Edwards, head of support at M&G, said: "The complexity of the upgrade was made simple by the professional manner of Rhyme's planning and approach.
Our ability to work very closely together with Rhyme was fundamental to this success. We undertook this major change with no impact on the existing business. The 150 or so business users in M&G have already benefited from the improved system performance and flexibility."

Paul Bebber, sales manager, Rhyme Systems, said: "In order for M&G to gain the maximum potential from the new software, we held workshops with the technical staff to ensure all of the benefits were gained. The new version, together with a hardware upgrade has resulted in a significant improvement in system performance and throughput, illustrating Quasar's market leading position in this area. Quasar continues to deliver world-class performance to a key customer."