Australian-owned software developer, InfoComp, today announced the adoption by Macquarie Bank Funds Management Group (FMG) of its fund administration platform, Composer and its new messaging framework, Conductor.
The FMG implementation marks the third time Macquarie has backed InfoComp and follows Macquarie Financial Services Group (FSG)'s successful implementation of Composer in December 2000 and purchase of Conductor last year.
Composer, which went live at Macquarie Bank FMG this month, will administer FMG's entire suite of wholesale unit trusts, while Conductor will be used to streamline integration between the Composer platform and other systems used within Macquarie Bank.
Robert DeDominicis, Chief Executive Officer of InfoComp said, "We are delighted to have been able to further assist Macquarie Bank with the direction and growth of two of its core businesses - FSG and its Superannuation Wrap and now the Funds Management Group. In particular, we see our contract with the latter as an endorsement on two fronts - the success of Composer within the Wrap business and that we have a very close and successful working relationship with the bank."
"Our products offer an enormous amount of flexibility - here we have the same application, Composer, supporting a superannuation and pension wrap in one business unit and wholesale unit trusts in another. In both FSG and FMG our products are integrated to many other systems in the bank and that's where Conductor fits. It really helps simplify the integration task."
InfoComp software has been implemented by many of Australia's premier fund managers and custodians including Credit Suisse Asset Management, JPMorgan, Merrill Lynch, Perpetual Investments, Royal Bank of Canada Global Services and Asteron (part of the Promina Group).