Shangai, China (PRWEB) June 09, 2011
Shanghai-based Pacific Asset Management Co., Ltd. (PAMC), the asset management subsidiary of China Pacific Insurance (Group) Co., Ltd. (CPIC), has selected SunGard’s Asset Arena Investment Accounting solution to help increase back-office efficiency and improve client service. Asset Arena Investment Accounting provides investment operations processing and comprehensive support for a wide range of assets, countries and investment activities.
PAMC’s selection of Asset Arena is part of the firm’s long-term strategic plan to streamline its operations and scale for global growth, while also supporting its parent company’s investment accounting activities. The firm underwent a rigorous system selection process, analyzing and testing systems from three continents before selecting SunGard’s Asset Arena. PAMC chose Asset Arena for its back-office flexibility and ability to address both global market requirements and Chinese-specific regulations, including those of the China Insurance Regulatory Commission, as well as Chinese language capabilities and SunGard’s strong local support team with knowledge of Chinese investment conventions and laws.
Asset Arena will provide PAMC with agility to adapt to ongoing changes in investment instruments, accounting rules and client requirements. For the first time, PAMC will be able to support investment management and cash management in a single system, while streamlining workflows and improving risk controls. Asset Arena’s reporting and data warehouse will help PAMC deliver a new level of client service and further differentiate its investment management services.
Mr. Aijun Wu, head of operations at Pacific Asset Management Co., Ltd., said, “SunGard’s Asset Arena provides us with broad and feature-rich capabilities that help improve the accuracy and efficiency of our daily operations. The solution’s extensive reporting capabilities will help us enhance services to clients and maintain rigorous controls over our internal processes. With a proven track record both in China and globally, SunGard has assembled a strong local team of business experts with an acute understanding of the Chinese market and its unique challenges. SunGard’s expertise and support for both our local and global business requirements will help us in our quest to be a leader in the Chinese asset management industry.”
Doug Morgan, president of SunGard’s Asset Arena business unit, said, “PAMC’s selection of Asset Arena is a testament to the solution’s strong support for the Chinese market. SunGard is committed to the region and continues to invest in both services and product development to help ensure long-term value for customers in China. We look forward to working with PAMC to help enhance its operation and contribute to the success of its business.”
About Pacific Asset Management Co., Ltd
Pacific Asset Management Co., Ltd. was founded on June 9, 2006. It is held by CPIC Group, headquartered in Shanghai, with registered capital totalling RMB 500 million. The company adheres to the core value of pursuing steady growth and excellence with business integrity, and follows the business philosophy of professional, steady and excellent service. Its lines of business include managing and using self-owned capital and premiums, entrusted capital management business, capital management-related consulting services, and other asset management business permitted by laws and regulations.
Its growth strategy in the coming five years is to develop into a leading asset management company in China with optimized corporate governance, diversified services, characteristic of complete governance structure, scientific investment, strict risk control, excellent services and innovation. For more information, please visit http://www.cpic.com.cn.
About Asset Arena
Asset Arena is SunGard’s global suite of products and services for asset managers, institutional investors, and traditional and alternative fund administrators. Asset Arena supports the core functions of the asset management industry including investment management, investment operations and investor servicing. By leveraging technologies such as business process management and software-as-a-service, Asset Arena helps investment firms manage complexity, increase efficiency, and reduce costs and operational risk, while maintaining agility to respond to changing business and regulatory requirements. For more information, visit http://www.sungard.com/assetarena.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Asset Arena are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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