SS&C's Technology Platform Will Be Utilized at Multiple Affiliates
SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that Virtus Investment Partners (Nasdaq:VRTS) has chosen SS&C to provide middle- and back-office services for approximately $20 billion of separately managed, institutional and closed-end fund assets.
Virtus, a partnership of boutique investment managers, will use SS&C's dedicated outsourcing services and leading technology, Global Wealth Platform™ and other related technologies to support the unique and specific requirements of its affiliated asset managers. Services include support for account opening, order design and trading, true multi-currency accounting, performance measurement and attribution and web based client reporting.
"Partnering with SS&C on middle- and back-office services will give Virtus a flexible and scalable operational platform to support our current investment management activities and our long-term growth needs," said Frank Waltman, Executive Vice President, Product Management, at Virtus. "We chose SS&C because of their depth and breadth of expertise in this area and their ability to support our distinctive business model, which provides our affiliates access to best-in-class technology support that is customized to their specific needs."
"Virtus has done a superb job of growing its assets and adding distinctive managers into its partnership. Having diverse, high performing managers is a recipe for success and SS&C is very pleased to be selected to deliver a comprehensive solution," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Our investment operations services team, underpinned by world-class technology, helps asset managers execute business strategies better, faster and more predictably."