'The fact that an asset manager the size of NIB Capital Asset Management, with its affiliation to two of the world's largest pension funds has selected PAM as its investment management system, speaks volumes about the perception of PAM in the global marketplace,' said Mike Baranack, Managing Director of Princeton Financial's European Operations. 'NIB Capital Asset Management feels that PAM offers the best functionality to meet the complex demands of this industry.
NIB Capital Asset Management, based in Utrecht, Netherlands, specialises in the analysis, structuring and management of European fixed income and derivative portfolios and provides pension funds, insurance companies and banks with an opportunity to invest in these portfolios via Mutual Funds containing those assets. NIB Capital Asset Management is part of the NIB Capital-group, with other business lines NIB Capital Bank and NIB Capital Private Equity. NIB Capital Asset Management was introduced to PAM through its affiliation with ABP.
NIB Capital Asset Management licensed PAM for Mutual Funds, an investment management and accounting system for mutual funds that is one of the core PAM products. The company also licensed complementary PAM software, including the Import Module, Cash Data Acquisition Module, PAM Custodian Trade Notification and FrontLine(tm) Suite.
The Import Module imports security master file, market and transaction data. The Cash Data Acquisition Module acquires, formats, and loads cash transactions from custodian banks into PAM's Cash Application module, which automatically reconciles bank cash transactions with PAM's receivable/payable transactions. PAM Custodian Trade Notification provides for the easy transmission of trade advices, complete with settlement information, directly to custodian banks using an industry-standard, SWIFT-compatible message. The FrontLine Suite includes both a Modelling and Trade Order Management application. These applications deliver comprehensive modelling capabilities, including pre-trade compliance; as well as trade order management functionality designed to track the life cycle of a trade from inception through placement, execution, allocation, and posting.
PAM replaced an internal system used by NIB Capital Asset Management, which also considered a number of other systems and vendors.
'We made the decision to go with PAM because of its complex fixed-income capabilities, the mutual fund processing and ability to work with our chosen middleware and other complementary systems to enable us to achieve straight-through-processing,' said Michael van Diemen, Managing Director of NIB Capital Asset Management. 'Also critical to our decision was the positive experience that ABP has had with PAM. We felt PAM was the right system to help take us in the direction we want to go.'
Princeton Financial Systems, an independent subsidiary of State Street Corporation, is a leading provider of investment management software systems and ASP services for institutional investors worldwide. Its flagship PAMÂ® investment systems provide complete STP-ready front-to-back office functionality that can be licensed for in-house use or accessed via the Internet. Current clients include 335 investment managers, mutual funds/unit trusts, insurance companies, pension funds and banks with combined assets approaching US $3 trillion. The company is headquartered in Princeton, New Jersey USA, with offices throughout the United States and in Windsor, UK, Amsterdam, Brussels, Sydney, Singapore, and Toronto.