US pension fund PSERS consolidates post-trade systems with SimCorp

SimCorp have signed up a growing number of North American asset owners that have adopted the platform to optimise their investment operations.

By Joe Parsons

The Pennsylvania Public School Employees Retirement System (PSERS), the $59 billion US pension fund, has consolidated its middle- and back-office systems with a single solution from SimCorp.

The pension fund will use SimCorp’s cloud-based investment book of record (IBOR) platform, SimCorp Dimension, to automate and consolidate its middle- and back-office data.

Once implemented, the IBOR will provide PSERS with a single system for its post-trade needs, including analytics and optimised investment decision-making.

“SimCorp Dimension will allow PSERS to join other large state pension systems and state treasury departments in implementing an integrated IBOR to improve operations,” said John Kemp, managing director of investment operations and risk, PSERS. 

“PSERS’ operations professionals have been called upon to support a growing number of portfolios, trades, positions, and complex investment strategies as our investment program has evolved, and this trend is expected to continue into the future.”

PSERS joins the growing number of asset owners that have adopted SimCorp’s platform to simplify and optimise their investment operations data. Pension funds that have adopted SimCorp’s front-to-back solution in North America also include Canada’s Hydro-Quebec pension plan, the Canada Pension Plan Investment Board, and the Healthcare of Ontario Pension Plan.

The mandate also includes use of SimCorp’s accounting book of record (ABOR) and its Alternatives Investment Manager solution, combining data across all alternatives asset classes such as private equity and real estate onto a single platform.

“We are very happy to welcome Pennsylvania Public School Employees’ Retirement System to the fast-growing community of North American pension plans choosing SimCorp Dimension, as the foundation for multi-asset class investment operations,” added James Corrigan, executive vice president and managing director of SimCorp North America.

“Our continued investment into alternative investments also forms a significant part of this success, as asset owners seek operational support for this growing yet challenging asset class.”

In December, SimCorp signed a front-to-back data sharing agreement with BNY Mellon, whereby the global custodian would provide custody and fund services data with SimCorp’s mutual buy-side clients.