DST International (DSTi) says 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.
“HiPortfolio/3 allows easy integration with our fund manager, Morley Fund Management, as well as providing market leading instrument coverage,” says David Coventry, the project manager at Norwich Union. “We are now looking to implement extra functionality, which will include support for IAS.”
Mike Winn, DSTi’s group managing director, describes HiPortfolio/3 as the market leader for backoffice systems “because it is fully scalable and can be easily integrated with many other systems.”