Using Sophis VALUE, QIC will be able to enhance the management of its market leading risk management solutions for its clients. QIC has a global presence with nine offices around the world and over 100 global clients and is Sophis' first client in Australia.

The appointment follows an extensive global search and will provide QIC with a multi-asset class, portfolio and risk management solution, which will integrate a number of existing systems and provide an improved level of functionality, data management and client reporting.

Troy Rieck, Managing Director QIC Capital Markets, said that in the current economic environment nothing is more important than risk management. "For QIC, the implementation of Sophis Value will enhance the breadth and efficiency of risk management solutions tailored to meet the needs of our clients.

"The present crisis has demonstrated the need for a strong, ongoing risk management capability in all funds. Sophis Value will enhance the risk management activities presently undertaken by QIC, including stress testing and scenario analysis outcomes. QIC has identified Sophis Value as a strategic enabler for our ongoing business and client servicing requirements. We see the appointment of Sophis as providing QIC with a distinct advantage in the Australian market place," continued Mr Rieck.

Pascal Xatart, CEO of Sophis, said both companies had a vested interest in ensuring the long term success of the project. "Sophis has identified the QIC implementation as a key base from which we will launch our growth strategy in the Australian market, as part of our Asia Pacific development strategy"

Sophis has worked with buy-side institutions since 2001 and VALUE is currently in use at over 80 institutions worldwide, from start-up hedge funds to global investment management companies. Clients include AXA IM, BNP Paribas IP, BTG, Fortis IM, Groupama AM, Jabre Capital.