"We wanted to expand our operation and ultimately grow our business, without considerably increasing costs. The solution we chose had to meet all our operational requirements which included integration of back office services and interface to the host system of the custodian, allow us to add additional funds from other institutions without additional overhead, and also have the capabilities to deliver all our reporting in accordance with the complex Swiss legal requirements," explained Lars Inderwildi, Director at Wegelin Fund Management. After a thorough review of available options, Wegelin Fund Management chose Advent's AxysÂ® for all the firm's portfolio management and reporting requirements.
John Legrand, Advent EMEA Director of Professional Services explains the results. "Since this implementation of AxysÂ®, Wegelin Fund Management has reduced its NAV calculation time significantly and made considerable improvements to the speed of processing by automating many of the existing manual processes. At the same time they've reduced operational risk in the business. These improvements have already allowed new funds from other banks to be added to the firm's portfolio, enabling the firm to achieve their business objective of expanding their operation," he said.
AxysÂ® is a comprehensive and powerful portfolio management and reporting system, enabling firms to easily manage an extensive range of investment instruments, resulting in efficiencies that allow business growth without increased overhead, and more time to focus on differentiating their services.
"Our ability to implement a portfolio management and reporting system in a short period of time, which meets all the local legislative reporting requirements, is a clear illustration of the flexibility and capabilities of our products," said HÃ¥kan Valberg, General Manager Advent EMEA. "Wegelin Fund Management is an important client for us, increasing our customer base in Switzerland and further demonstrating our firm commitment to the Swiss market," Valberg continued.