Odyssey Financial Technologies, a global provider of front- and middle-office software for the Private Banking, Private Wealth Management and Asset Management industries, announces that it has completed the installation and upgrade of its InvestmentManager portfolio management system with Industry Funds Management (IFM) of Melbourne, Australia.
This is the first installation of the solution in Asia Pacific, which is widely used by investment management institutions across Europe.
Odyssey worked closely with IFM's team over a number of months in 2009 to customise InvestmentManagerTM to handle specific Australian market requirements. The first Cash funds - the IFM Transaction Cash Fund, and the IFM Strategic Cash Fund - went live on the system in June 2009, followed by completion of the full implementation in December.
IFM's Executive Director - Finance and Operations, Philip Dowman, elaborates: "InvestmentManager provides us with functionality for the Australian market and positions our business for growth. The upgrade project has involved close co-operation between our teams, and we found Odyssey to be flexible and responsive throughout this process. We are now using InvestmentManager v6 as the core system for managing all IFM's Debt Investment portfolios."
Odyssey enhanced the system to cater for local market nuances, such as bond pricing close to maturity and local FRN valuation. This six week upgrade to v6 validates Odyssey's strategy of making InvestmentManagerTM easier to implement and support.
Odyssey's General Manager Asia Pacific, Dave White, comments: "We were delighted to be selected by IFM initially, and the project has without doubt given us an invaluable opportunity to explore and understand the local market. We have recently opened an office in Sydney and believe that the Asia Pacific market has great future potential for our solution. With v6 we are looking forward to building on this first relationship to launch InvestmentManager more widely across the region."
InvestmentManager is an advanced, analytical front office decision support solution covering the full range of multi-asset, multi-currency portfolio management requirements. It is designed to give portfolio managers control, enabling faster and easier tracking of the investment process from historical performance and attribution through what-if and portfolio modeling to forward- looking scenario analysis.