WAVE Management AG, the asset management unit of the German VHV insurance group with more than 14 billion in assets under management, plans to implement SimCorp Dimension as its investment management system.
The company, based in Hannover, will be using the system for portfolio management, compliance, risk management and performance measurement, as well as data for Solvency II compliance. SimCorp Dimension will be used for WAVE Management AGs entire book of records and will enable look-through into underlying securities of externally managed funds so that the firm will know its total exposure.
We will be relying on SimCorp Dimension as the market-leading software of an established and reliable provider, says Dr. Lars Rothe, WAVE Management AGs board member responsible for the project. The first objective of the SimCorp Dimension implementation is to professionalize further our asset management processes. As an integrated solution and with its high degree of automation, we expect SimCorp Dimension to help us achieve valuable efficiency gains.
Dr. Ralf Schmcker, managing director and head of sales and product management at SimCorp Central Europe, adds: Todays insurance companies have extensive system requirements within front and middle office. To comply with new and forthcoming regulation and to stay ahead of industry competition companies need an advanced and up-to-date investment management system. We are happy to see that VHV insurance group regards SimCorp Dimension as the best solution to meet these requirements.
(CG)