Andra AP-fonden (the second AP-fund), one of Sweden’s newly formed public pension companies, has placed a significantly large order for the supply and installation of TMS2000, SimCorp’s integrated investment management system.
Currently in the process of setting up in Gothenburg, Andra AP-fonden is one of four state pension funds that has been established following the restructuring of ‘Allmänna pensionsfonden’, which took effect on 1 January this year. Andra AP-fonden has approximately SEK 140 billion (c. £9.62 billion) worth of assets under management.
The installation of TMS2000 will provide Sweden’s second AP-fund with straight through processing, totally integrating its front, middle and back office activities. Implementation is expected to be completed in the first quarter of 2002.
TMS2000 has already been installed in Sweden’s 1st, 4th, 6th and 7th AP-fonden, which are all members of the AP family of funds.