For front office operations the release offers important enhancements within portfolio modelling workflow. Portfolio managers will be able to be more efficient and flexible through the introduction of floating weighted benchmarks, pro-rata re-allocations in the rebalancing module and flexible pre-order limit checks on groups of trade orders.
There are also many areas in the back office that will benefit from the new release. Within fund accounting various enhancements ensure improved back office workflow. Other developments include additional functionality to support compliance with the new EU tax savings directive and upgraded IFRS capability.
To support the expectations for improved client reporting and document management from both institutional and private investors, several new key initiatives have been completed. These facilitate the building of high quality reports from multiple sources at great speed.
A sophisticated report book facility has been added to enable the streamlining of period-end reporting processing. When used in conjunction with the automated archiving tool and the report workflow manager, this facility allows organisations to produce high quality, comprehensive and complex reports with only limited manual effort. The report workflow manager ensures that all necessary quality checks are made before releasing the report to the end-client.
A corporate actions manager facility has been introduced to SimCorp Dimension to help streamline this business function, which can be very labour intensive and time consuming. A highly efficient execution and administration tool, the corporate actions manager allows for the import of announcements based on the extended ISO 15022 format messages from external providers to be monitored and processed in the system.
Among the other enhancements included in version 3.8 are: new instruments including equity swaps; new functionality in risk management on VaR calculations including predictive stress testing; new annual and legal reports; derivative regulation for German fund managers; Australian 45 day tax ruling on equity holdings; US capital gains tax; improvements in cash management; new fields for compliance checking; and upgrades to performance measurement and attribution.