Apollo Asset Management seeks agility with Agilis Investment Management Suite.

9 March 2010

Apollo Insurance Company of Kenya, a leading financial powerhouse, has selected Agile Financial Technologies’ Agilis Investment Management solution to manage their Wealth Management, Mutual Fund Management, Investor Services, Pension Fund Management and Pension Fund Administration businesses for its wholly owned subsidiary Apollo Asset Management

Agilis IMS is a straight-through, front-to-back, web-based, multi-entity, multi-asset class investment management solution covering treasury and prop-book management, wealth management, fund management, investor services management and pension fund management. User configurable dashboards, analytics and comprehensive risk management and back office capabilities provide for ease of use whilst simultaneously ensuring effective control over the operations.

The solution will be primarily used by Apollo Asset Management Company which in addition to its own asset management business, is also mandated to manage the assets of the group companies – Apollo Life and APA Insurance.

Apollo Asset Management is licenced as a fund manager by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) in Kenya. Apollo Insurance Company will use the solution to manage its Pension Fund Administration business where Agilis IMS will automate the contributions process and its intricate computations of various types of contribution segments, taxation norms and calculations. Another group company called Gordon Court will also be using Agilis IMS to manage their Real Estate investment portfolio.
The Apollo Insurance Group has been a firm believer in using technology as a foundation for growth, and has been an early adopter of technology in East Africa, and the selection of Agilis IMS will provide them with a holistic platform to enable the group automate its processes.

Commenting, Ashok Shah; a director of the group said, “We were seeking a technology platform to manage the operations of Apollo Asset Management company as well as the investment management needs of our insurance entities, real estate company and pension fund business. Agilis IMS provides us with a holistic, multi-entity platform that allows us to do just that“

“We are honoured to have Agilis IMS selected by the Apollo group, an organisation that is ahead of its peers in terms of technology adoption, to service their investment management needs and are confident of providing them with the technological edge that they seek in their operations”, said Kalpesh Desai, CEO of Agile Financial Technologies.

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