DST International (DSTi) says UK-based Cavendish Asset Management, a private wealth manager with ₤300 million under management, has bought HiInvest (its set of front and middle office applications that includes HiFrontOffice, HiOrders, HiCompliance and HiPerformance) and HiPortfolio/3 (the latest version of its back office solution).
“This is a fine example of DSTi’s strategy of expanding into the private wealth market and our systems’ scalability,” says Kim Holloway, DSTi’s global sales director. “It can meet the needs of both ends of the market from the smaller, more specialised asset management company to the larger global institutional players.”
Michael Rosehill, Cavendish’s Finance Director, says “cost of implementation and functionality were important to us, as was DSTi’s commitment to its resources behind the products. Being well versed in implementation and their understanding of our business means their products are designed to meet our needs.”
Cavendish Asset Management (CAM) manages funds for institutional and private clients over a wide spread of international stock markets and across a range of small and large companies. CAM currently has ₤300 million under management and is the fund management arm of Lewis Trust Group Limited, which is a privately owned trading and investment group.