London, 21 October 2003 - WestAM is implementing Apollo for Institutional
Management, a best-of-breed portfolio management system, from Misys Asset
Management Systems - a global solution provider for the asset management
community. Apollo for Institutional Management was chosen because of its ability to support WestAM's global asset management requirements in Europe and Asia. It will initially be used in the UK and Germany by WestLB's asset management division to provide a fund-centric tool to support its investment
Misys Asset Management Systems will work closely with WestAM on a phased
implementation to replace the existing investment process system. It is intended that Apollo for Institutional Management will go live in 2004 - improving the information available to WestAM's fund managers by utilising all asset classes with increased sophistication.
Bob Adams, global head of IT, WestAM, says: "Misys Asset Management Systems
understands the intricate nature of the institutional business. The technical architecture of Apollo is based on a coherent and convincing design. And when it's fully live, the functional coverage will help our fund managers to perform all aspects of their daily activities with much greater efficiency and accuracy."
Adams concludes: "An important factor is that Misys Asset Management Systems is working to become KAGG accredited. Apollo will have the required functionality to support a comprehensive suite of regulatory compliance rules for the German market. "
Shaun Crowley, Misys Asset Management Systems' head of sales for Apollo says: "To perform in today's tough investment market, asset managers need to combine diverse instrument types for a more risk-balanced approach. Our aim is to let WestAM focus on delivering investment performance, whilst we provide a fund-centric tool that supports the complex investment techniques now being embraced. "
Apollo for Institutional Management has been developed from the fund manager's perspective whilst fully encompassing the operational requirements of today's asset management business. It can provide functionality from order management to corporate action processing and reconciliation, while retaining its focus as a portfolio management system - streamlining operations without increasing risk.
The strength of Apollo was further acknowledged by winning the 'Portfolio
Management Solution Award' at The Banker Technology Awards 2003. The Banker awarded Apollo for its front office client management activities, and also its middle office requirements of reconciliations and control type activities. The judges liked its capability to handle multiple instruments such as OTC contracts, bonds, equity and derivatives, but also the automatic processing of corporate actions.