First State Upgrades to DSTi’s HiPortfolio/3

London – DST International (DSTi), the leader in business solutions for the investment management industry, announced today that First State Investments (UK) (‘First State’), the international investment management business of the Commonwealth Bank of Australia - one of Australia's largest financial services organisations with over £139bn in assets as at 30 June 2005, has committed to upgrading to HiPortfolio/3 and Open Messenger - DSTi’s future proof fund accounting solution.

HiPortfolio/3 and Open Messenger will be run and used in Edinburgh but will also be accessed, by a number of investment professionals, in both London and Hong Kong.

Grant Ferguson, Head of Information Technology at First State said, “DSTi has been a strategic partner of ours for some time and has consistently delivered a high quality product and support services. It made commercial sense for us to commit to HiPortfolio/3 with Open Messenger as we have now ring-fenced our expenditure in this space, and have been able to develop a comprehensive cost model for future service delivery.“

Mike Winn, DSTi’s Chief Executive Officer, said, “We are delighted with the uptake of HiPortfolio/3 by our current clients including First State. HiPortfolio/3 is undeniably the leading fund accounting product on the market for institutions with multiple locations. Remote access allows HiPortfolio/3 functionality to be available for our clients’ offices anywhere in the world, making it a truly global, scalable and flexible solution. Our clients’ single database can be housed in one country, updated from multiple offices in several regions, and the product will provide a comprehensive, up-to-date global view of the company any time anywhere.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development