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Eastspring Investments opts for SimCorp Coric as part of its digital transformation program

SimCorp A/S
·3-min read

February 1, 2021

Press release

SimCorp, a leading provider of integrated, front-to-back, multi-asset investment management solutions and services to the world’s largest buy-side institutions, today announces that Eastspring Investments, the Asian asset management business of Prudential plc, managing USD $220 billion*, has deployed SimCorp Coric to provide improved client reporting capabilities across its business**.

With initial implementation complete in three months, the asset manager is one of a series of global wins for SimCorp Coric in the Institutional investment space. It comes as heightened market conditions continue to create challenges for global asset management, not least the delivery of timely and accurate reporting and its impact on client experience, amid a newly-remote industry.

The implementation sees Eastspring deploy SimCorp Coric to automate and enable the production of high-quality, timely client reports with granular data, to respond to the changing needs of its clients. In doing so, it enables the organization to minimize the amount of coordination and manual intervention required across teams, delivering consistent data, tools and processes.

Oliver Johnson, Senior Vice President and Managing Director, SimCorp Asia-Pacific comments: “As the Asian asset management industry continues its rapid growth, the competition to win and retain clients is becoming increasingly fierce. Clients now want a greater volume of investment data and consistent reporting on-demand. Being able to deliver this is not only a core requirement, but delivers a superior client experience that can make a real difference. We are delighted to work with Eastspring Investments to support this key component in their strategic initiative and offer the business an enhanced reporting platform that distinguishes it within a competitive market.”

*AUM as at 30 June 2020
**License agreement signed in July 2019

Enquiries regarding this announcement should be addressed to:
Mittal Shah, Head of PR, SimCorp +44 (0) 207 397 8072 mittal.shah@simcorp.com

About SimCorp
SimCorp provides integrated, best-in-class, multi-asset investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, central banks, sovereign wealth funds, and treasury. Deployed on premise or in the cloud, SimCorp’s core solution, SimCorp Dimension®, alongside SimCorp Coric®, SimCorp Gain, and SimCorp Sofia form a powerful and complete solution. Together with a range of managed services, they support the entire investment life cycle, based on a market-leading IBOR. SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, with regional offices across EMEA, North America, and Asia Pacific. For more information, please visit www.simcorp.com

Notes to Editor

SimCorp Coric Key Client Metrics

  • Annual manpower savings of $500k for a relatively small firm

  • 90%+ automation of manual reporting processes / 100% automation of fund factsheets

  • Quarterly Investment Reviews production costs down 81%

  • Customization costs cut by 95%, with no IT involvement

  • Clients have reported shorter and more cost effective reporting cycle: from 1 month to 10 days, from 20 factsheets by month-end to 200 factsheets by day 10.

  • Increase in client/report volumes has no impact on manpower or infrastructure costs.