SunGard, a financial systems provider, has announced that Bank of Ireland Securities Services, the fund administration and custody arm of Bank of Ireland Group, has successfully implemented SunGard’s Asset Arena, an investment accounting and reporting technology platform.
Bank of Ireland Securities Services (BoISS) has successfully transitioned its institutional, retail and alternative investment clients, who span a wide variety of fund types and investment strategies, to the new system.
BoISS currently has over $180 billion in assets under custody and administration. The types of funds incorporated in the system migration include exchange traded funds, multi-manager funds, property funds, hedge funds and fund-of-hedge funds, as well as mutual funds, money market funds, and structured products for a range of off-shore and on-shore structures.
In addition to migrating its clients’ funds from the incumbent system to Asset Arena Investment Accounting, BoISS continues to launch new business directly onto the system. The new technology will help BoISS to expand its fund administration offerings to incorporate broader servicing capabilities and achieve greater operational efficiency.