SS&C Direct provides full end to end investment management process outsourcing of approximately $20 billion of GMIMCo investment portfolios including portfolio accounting, trade processing, custodian reconciliation, and reporting services. GMIMCo signed a multi-year agreement for SS&C to provide daily operational services to support the growth of GMIMCo's diverse and complex investment strategies including equities, fixed income, derivatives and real estate. The outsourcing of the administrative investment activities fit GMIMCo's strategy to focus on core activities including pension asset investment, alternative investments, liability duration management, and related client servicing while leveraging SS&C's proprietary software, infrastructure and back office expertise. GMIMCo is serviced by SS&C's outsourcing division, SS&C Direct, out of its Windsor, Connecticut headquarters which went live February 2008.
"We believe the middle and back office outsource services market was mature enough for us to take the step to streamline our operational paradigm. What impressed us most with SS&C was its long-term industry commitment as an outsourcing provider, its strategic commitment to technology solutions and the experience of its industry-focused service team," said Michael Cloherty, Deputy Chief Operating Officer for GMIMCo.
"We needed a partner that brings the same level of quality and expertise to the back office as we deliver to our clients."
"More and more we are seeing the trend toward asset management firms wanting to focus on what they do best for clients while needing a sustainable solution that allows them to grow and launch new funds quickly into the market," said Bill Stone, Chairman and CEO, SS&C.
"Outsourcing back office functions removes distractions and enables money managers to focus on making investment decisions. We look forward to enhancing the strong relationship SS&C enjoys with GMAM and furthering their efforts to better serve their clients."
SS&C Direct leverages SS&C's full range of software solutions to support the entire investment process for public and private pension funds, endowments and foundations, asset managers, mutual funds, insurance and other financial institutions.