Sydney, 12 April 2006 - DST International (DSTi) - the leader in business solutions for the financial services industry today announced that Perennial Investment Partners has gone live with the implementation of HiPortfolio/3, the leading investment management platform, as its core in-house portfolio administration system.
The implementation has given Perennial greater access to existing data, enhanced client reporting, and improved integration to internal and external systems - all without the need to increase head count, Perennial Investment Partners' Senior Manager External Relationships, Candice Teasdale said.
Perennial has incorporated HiPortfolio/3 into its mid- and back-office investment management functions. The boutique investment manager utilises the software across its four domestic businesses - Perennial Growth Equity Business, Perennial Value Management Business, Perennial Fixed Interest Business and Perennial Real Estate Business.
"HiPortfolio/3 is our preferred platform for domestic administration. Our view is that it will become the long-term platform of choice for the industry," Ms Teasdale said. "This new version provides improved reporting throughout the business and will assist us in the integration of information flow between all our other software systems."
"Perennial is focused on technology-led improvements that have allowed us to keep pace with growth in our business. This new version of HiPortfolio/3 offers increased capabilities to leverage and manage our underlying data, and puts us in a good position as our business grows, especially with the recent addition of our Real Estate Business."
Perennial's upgrade from HiPortfolio/2 included five additional investment management modules for Multi-Currency processing, cash transaction import and the new International Financial Reporting Standards (IFRS) requirements.
DSTi Australia and New Zealand Chief Executive Officer Ian Mathieson added: "DSTi has been adding value to IOOF and Perennial's business for more than 10 years. We are pleased to continue our partnership with one of our longest standing clients through this implementation, which is enabling Perennial to deliver enhanced customer service standards and efficiently manage its business growth."