Cape Town, August 3, 2004
AssetHouse Limited, a subsidiary of Blue Ink Investments, has chosen Fundamental Software to implement the Fundamental Portfolio Management System throughout their Mauritius operations.
The Fundamental Portfolio Manager (FPM) is a complete, integrated front-to-back asset management tool, covering the full spectrum of asset management, right through from order initiation to reporting. It provides asset managers with the ability to manage investment portfolios and client relationships with ease, while minimising associated administrative and routine processing tasks.
Bernard Futter of AssetHouse, says the Fundamental Portfolio Management system was selected after an extensive due diligence. "We wanted to make sure that the product could meet the ongoing needs of our business and support our extensive client, IFA and management reporting requirements. Fundamental was able to provide creative solutions and recommendations in order to customize the system to our specifications."
The deal represents Fundamental’s first truly international implementation and a strategic move into the Mauritian market.
Craig Arenhold, MD of Fundamental, says the unique relationship between AssetHouse and Blue Ink made it possible to do the installation locally, on the Blue Ink premises, and simply ship the server to Mauritius. "In terms of support, all training and support is done on a remote basis, via a dial-up modem, including updates and updgrades," he explains.
"This is our eighth new client in 14 months, which marks quite an aggressive growth phase for Fundamental. Given the size of Mauritius, we are expecting further successes there and are hoping to open up the market beyond Mauritius into other offshore finance centres," says Arenhold.
The Fundamental Portfolio Manager was custom-built three years ago for a local private client asset management company. The product’s innovative features and ease-of-use compared to that of other products in the market led technology company Smartsource to acquire the rights to the product in 2003. Incorporated in February 2003, Fundamental is the first company to emerge from Smartsource’s business incubation initiative called Smartsource Launchpad.