Leading Luxembourg Management Company chooses Linedata for powerful and integrated solution
Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that BIL Manage Invest (BMI), the management company of Banque Internationale à Luxembourg (BIL), has selected Linedata Front Office Platform to manage their complete front-to-back asset management workflow across their full suite of investment funds.
With an increased emphasis on risk management in the industry, AIFM Directive and UCITS regulation continue to impose controls and transparency with the end goal of protecting the financial world against systemic risk. While many management companies seek comprehensive risk management around all aspects of their front-to-back activities, they also look to increase efficiencies, and provide added-value to their clients while keeping costs at an acceptable level. This is particularly true with funds under the AIFM agreement, as formerly deregulated funds benefitted from a low cost structure with regards to risk monitoring activities. Having an integrated solution for both front and middle office controls, including investment compliance, reconciliation, liquidity monitoring, risk management and valuation controls enables middle office teams and risk managers to efficiently manage these risks in real-time and monitor any discrepancy on a timely basis.
Linedata Front Office Platform offers a unique, integrated global approach to portfolio management, trading, compliance and reporting. The single solution combines the Linedata Longview, Linedata Compliance, Linedata Navquest and Linedata Reporting modules. The platform will allow BMI to support their long term growth and build an innovative technology infrastructure to adapt and scale their business in the ever changing regulatory environment.
“Our assets under management have grown significantly over the past year, causing us to shift our operating models from the in-house developments we were using for our front-to-back processing”, comments Alexandre Dumont, Chief Executive Officer at BMI.
Alain Bastin, BMI’s Conducting Officer & Chief Risk Officer, stated: “We manage a large variety of in-house funds and third-party funds, both under UCITS and AIFM Directive, and investments ranging from purely financial vehicles to real-estate investments, and deposited with various custodian banks. This requires a strong portfolio management system that can manage multiple investment strategies and ensure in real time that our investments are in line with investment policy and restrictions. With the need to implement a robust and integrated solution, it was key to choose a provider that offers a true partnership and offers value-added services. Linedata delivers the solutions and services to support our growth for the long term.”
“We are pleased to have BIL Manage Invest as our newest Luxembourg-based client on the Linedata Front Office Platform. Linedata allows firms like BMI to change their operating model, build greater efficiencies and focus on their core business. Our technology offers the front-to-back workflow tools necessary for them to meet their complete asset management and risk monitoring needs,” states Deb Biswas, EVP of Sales and Co-Head of Linedata Front Office Asset Management. “Our Luxembourg-based team, and our global Front-Office team, are excited to support the growth of BMI.”