Dutch insurer AEGON has bought a performance measurement and attribution tool from Financial Models Company called FMCSylvan. AEGON Nederland, with Euros 52 billion under management, joins AEGON’s UK operation as a user of FMCSylvan.
In addition to the software’s core functionality, AEGON will also employ FMCSylvan’s Stock Level Attribution module, Fixed Income Attribution module, the Indices customised benchmark module, and the newly released Integrator module for automated data integrity checking. The firm will also use FMCSylvan’s Web-based reporting module to generate detailed performance reports, and perform drill-down analysis on-line.
“FMCSylvan was chosen following a selection process and comprehensive evaluation of leading performance system vendors,” says John Bouterse, Head of Performance Measurement for AEGON Nederland. “The system demonstrated its ability to process and analyze multicurrency balanced funds within a single, integrated database environment. The combination of market leading functionality, data integrity checking and automation of many previously manual tasks, ensures that AEGON has put in place a platform that can perform daily analysis to the most detailed level for all portfolios.”
Among the key factors that influenced AEGON’s decision to select FMCSylvan were the product’s ability to calculate returns and perform daily attribution analysis on one integrated performance platform; the flexibility to conduct analysis against standard and user defined customized benchmarks; and the product’s capability to automate a large number of existing manual processes relating to the performance reporting function. Additionally, AEGON and FMC staff had previously worked together on defining key deliverables within the fixed income environment, which were ultimately delivered to AEGON within the Fixed Income Attribution module.
“We are delighted that AEGON, one of the largest and most discerning asset managers in Europe, has chosen FMCSylvan for all their performance needs,” says Phil Banas, Managing Director of Financial Models Corporation Limited, FMC’s European subsidiary. “AEGON were one of the companies involved in early stage discussions on our proposed approach to fixed income attribution, and their selection of FMCSylvan provides further endorsement of our unique fixed income attribution methodology.”