Meeting Merc's software needs
Financial software group DST International has announced an agreement to service the front, middle and back office requirements of Mercan-tile Mutual Investment Management (MMIM).
Under the agreement, which has been estimated by sources to be worth up to $10 million, DST will supply MMIM with a software suite includ-ing its HiPortfolio/2 and various open products.
HiPortfolio/2 is an integrated front and back office asset management system made up of more than 30 modules, each providing proces
Financial software group DST International has announced an agreement to service the front, middle and back office requirements of Mercan-tile Mutual Investment Management (MMIM).
Under the agreement, which has been estimated by sources to be worth up to $10 million, DST will supply MMIM with a software suite includ-ing its HiPortfolio/2 and various open products.
HiPortfolio/2 is an integrated front and back office asset management system made up of more than 30 modules, each providing process sup-port for a specific category of investment instrument or business function. It is DST's most popular asset management system.
MMIM manages about $20 billion in funds from its Sydney office. Mercantile Mutual business manager Aiden Slevin says the system will only be installed in Sydney at this stage, but may be applied in parent company ING Investment Man-agement's offices in the Asia Pacific region later.
Recommended for you
A Gold Coast-based financial adviser has been banned for four years by the corporate regulator after he provided inappropriate advice for Next Generation Advice regarding speculative and illiquid investments.
With $34.9 million in cash on its balance sheet, Fiducian executive chairman Indy Singh has said the licensee won’t be rushed into making large advice acquisitions or paying out special dividends.
ETF provider VanEck is set to launch its latest smart beta ETF – the MSCI International Growth ETF– ushering in a new growth international equities strategy.
Advancing research on the use of artificial intelligence in financial services, AMP has announced a strategic partnership with UNSW Sydney.
