WestAM is implementing Apollo for Institutional Management, a best-of-breed portfolio management system, from Misys Asset Management Systems. The system, which was chosen because of its ability to support WestAM’s global asset management requirements in Europe and Asia, will initially be used in the UK and Germany by WestLB’s asset management division to provide a fund-centric tool to support its investment management process.
Bob Adams, global head of IT, WestAM, comments: “An important factor is that Misys Asset Management Systems is working to become KAGG accredited. Apollo will have the required functionality to support a comprehensive suite of regulatory compliance rules for the German market.”
Misys Asset Management Systems will work closely with WestAM on a phased implementation to replace the existing investment process system. It is intended that Apollo for Institutional Management will go live in 2004 – improving the information available to WestAM’s fund managers by utilizing all asset classes with increased sophistication.
“Misys Asset Management Systems understands the intricate nature of the institutional business,” says Adams. “The technical architecture of Apollo is based on a coherent and convincing design. And when it’s fully live, the functional coverage will help our fund managers to perform all aspects of their daily activities with much greater efficiency and accuracy.”
Shaun Crowley, Misys Asset Management Systems’ head of sales for Apollo states: “To perform in today’s tough investment market, asset managers need to combine diverse instrument types for a more risk-balanced approach. Our aim is to let WestAM focus on delivering investment performance, whilst we provide a fund-centric tool that supports the complex investment techniques now being embraced.”