Source:
DST International (DSTi), the leader in business solutions for the investment management industry, announces today that the Life and Pension division of Norwich Union has now 'gone live' with HiPortfolio/3 - DSTi's portfolio administration and fund accounting solution.
Norwich Union uses the HiPortfolio/3 system for valuations and to provide accounting information for their 900 life and pension funds. Norwich Union moved to HiPortfolio/2 system initially and then subsequently migrated to HiPortfolio/3. Additional functionality is now being added to the system to meet Norwich Union's requirements.
David Coventry, the project manager at Norwich Union, said, "HiPortfolio/3 allows easy integration with our fund manager, Morley Fund Management, as well as providing market leading instrument coverage. We are now looking to implement extra functionality, which will include support for IAS."
Mike Winn, DSTi's group managing director, said, "HiPortfolio/3 is the market leader for backoffice systems because it is fully scalable and can be easily integrated with many other systems. Its flexibility supports the complex requirements of a major organisation such as Norwich Union. HiPortfolio/3 is a futureproof solution. that will not only manage the high volumes Norwich Union currently generates, but it will easily expand as their business continues to grow."