Spanish fund manager Santander Central Hispano Asset Management (SCH AM) has gone live on the HiInvest fund management and order generation system owned by London-based DST International (DSTi).
The system has replaced spreadsheets, which SCH Am previously used for managing and rebalancing portfolios, and for trade processing. HiInvest is fully integrated with the back office system, providing a more robust link between the trading process and settlement functions.
DSTi says a substantial development package was included as part of the purchase to ensure that HiInvest conforms to Spanish business practices. Implementation therefore involved close co-operation between SCH AM and DSTi to develop and test the software changes.
“Santander Central Hispano Asset Management is our first major Spanish client and it has been absolutely vital that the project be a success and I am delighted to say that it is,” says Mike Winn, DSTi’s group managing director. “Both the SCH AM systems team and our integration consultants worked closely to install HiInvest to both the agreed timetable and budget.”
SCH AM and DSTi are work together on other projects, including enhancing the balancing algorithms in HiInvest to accommodate the fixed income portfolio modeling needs of fund managers.
DST International is the international arm of DST Systems Inc, which services nearly 8,000 mutual funds and over 80 million accounts in the United States.