SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today released a video describing the benefits that Alberta Investment Management Corporation (AIMCo) has realized since the firm initiated an organization-wide undertaking, known as ‘AIMCo Innovations,’ to modernize its investment systems and processes with SimCorp Dimension. AIMCo is one of Canada’s largest and most diversified institutional investment fund managers with more than $80 billion in assets under management. AIMCo’s 27 clients include pension funds, endowment funds and the Alberta Heritage Savings Trust Fund for the Government of Alberta.
Watch the video to learn how AIMCo:
- Saves $500K annually without increasing the FTE (full time equivalent personnel)
- Is able to reconcile a single transaction across three different accounting frameworks, taking into account regional practices and multiple currencies
- Is able to be a low cost provider to its clients
“As we were transforming as a company, we began doing far more complex investments and we knew that the operating system in place would not support our plans for the future,” said Michael Baker, Senior Vice President, Investment Operations at AIMCo. “We realized that we needed to be a data driven organization with the ability to provide accurate, timely data to our risk and investment professionals to allow them to make sound investment decisions. This concept was the genesis of ‘AIMCo Innovations’. By aligning ourselves with a best in class system, our clients now benefit from one of the most robust decision making platforms in the investment world, and we leverage that data to earn the best risk-adjusted returns on their behalf. AIMCo manages money for 300,000 pensioners and also helps to fund scholarships, so fiscal prudence is critical. It is what allows us to do the best job possible to support our clients.”
“An organization like AIMCo cannot effectively manage risk for its clients without reliable data,” notes James Corrigan, Managing Director at SimCorp North America. ”As a result of ‘AIMCo Innovations’, today, there is high-quality information that is consistent, reconcilable and understandable. Outdated processes and systems have been replaced with modern, effective infrastructure and software, significantly reducing operational risk and increasing efficiency. We are proud to be AIMCo’s partner of choice to help achieve these goals.”