Shanghai-based Pacific Asset Management Co., Ltd. (PAMC), the asset management subsidiary of China Pacific Insurance (Group) Co., Ltd. (CPIC), has selected SunGard's Asset Arena Investment Accounting solution to help increase back-office efficiency and improve client service.
Asset Arena Investment Accounting provides investment operations processing and comprehensive support for a wide range of assets, countries and investment activities.
PAMC's selection of Asset Arena is part of the firm's long-term strategic plan to streamline its operations and scale for global growth, while also supporting its parent company's investment accounting activities. The firm underwent a rigorous system selection process, analyzing and testing systems from three continents before selecting SunGard's Asset Arena. PAMC chose Asset Arena for its back-office flexibility and ability to address both global market requirements and Chinese-specific regulations, including those of the China Insurance Regulatory Commission, as well as Chinese language capabilities and SunGard's strong local support team with knowledge of Chinese investment conventions and laws.
Asset Arena will provide PAMC with agility to adapt to ongoing changes in investment instruments, accounting rules and client requirements. For the first time, PAMC will be able to support investment management and cash management in a single system, while streamlining workflows and improving risk controls. Asset Arena's reporting and data warehouse will help PAMC deliver a new level of client service and further differentiate its investment management services.
Mr. Aijun Wu, head of operations at Pacific Asset Management Co., Ltd., said, "SunGard's Asset Arena provides us with broad and feature-rich capabilities that help improve the accuracy and efficiency of our daily operations. The solution's extensive reporting capabilities will help us enhance services to clients and maintain rigorous controls over our internal processes. With a proven track record both in China and globally, SunGard has assembled a strong local team of business experts with an acute understanding of the Chinese market and its unique challenges. SunGard's expertise and support for both our local and global business requirements will help us in our quest to be a leader in the Chinese asset management industry."
Doug Morgan, president of SunGard's Asset Arena business unit, said, "PAMC's selection of Asset Arena is a testament to the solution's strong support for the Chinese market. SunGard is committed to the region and continues to invest in both services and product development to help ensure long-term value for customers in China. We look forward to working with PAMC to help enhance its operation and contribute to the success of its business."