SS&C Technologies, the IT company and fund administration business recently taken private, says that SSQ Financial Group, a Canadian fund manager running $3 billion in assets, has bought its portfolio accounting system, Pacer, and its electronic trade communication service, FMCNet. SS&C acquired Canadian-born FMC in 2005.
“By using SS&C’s solutions, SSQ will further strengthen the effectiveness of our operational processes,” says Jean Cinq-Mars, Senior Director, SSQ. “We selected Pacer because it is a robust and flexible accounting platform. This positions us for the future as we continue to expand this important segment of our business.”
SSQ will gather daily segregated funds and fund of funds transactions from external fund managers through FMCNet and flow those transactions seamlessly into Pacer, allowing SSQ to produce timely NAV calculations.
“Progressive organizations like SSQ rely on us for a scalable platform for their core accounting and portfolio management systems,” says Norm Boulanger, President and Chief Executive Officer, SS&C Canada. “We are pleased to announce the addition of SSQ to our long list of Canadian clients.”