Thrivent Asset Management, a $30bn asset manager and subsidiary of Thrivent Financial for Lutherans, has selected SunGard's Asset Arena Investment Accounting as its mutual fund accounting platform.
Asset Arena provides investment operations processing and comprehensive support for a wide range of assets, countries and investment activities.
By employing rules-based exception management processing using Asset Arena, Thrivent Financial will be able to bring a higher level of automation to its critical accounting functions and help reduce the number of peripheral applications. Asset Arena will also help enhance Thrivent Financial's internal reporting by providing enriched data to the operations staff and fund managers. Thrivent Financial will use Asset Arena on an application service provider (ASP) basis to manage the firm's operations and reporting at both its Appleton, Wisconsin and Minneapolis, Minnesota locations.
Gerry Vaillancourt, vice president, Mutual Fund Accounting of Thrivent Financial said, "We selected SunGard's Asset Arena because it is a functionally rich and scalable solution that can help us maintain our business growth and contain costs. Most importantly, we hope to gain immediate efficiencies with the native functionality of the Asset Arena application."
"Asset Managers such as Thrivent Asset Management choose SunGard because they require a higher level of service and need to maximize their technology investments," said Doug Morgan, president of SunGard's institutional asset management business. "Our business is dedicated to delivering technology that supports business growth and lowering the total cost of ownership.