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 Mawer Investment Management Ltd. (Mawer), with over $67 billion CAD in AUM, has signed an agreement* selecting SimCorp Dimension as its multi-asset, front-to-back, investment management platform. The agreement is the latest in a series of North American front-to-back deals, which see buy-side firms choosing SimCorp’s front office.
For over 45 years, Mawer has provided investment services for institutional and individual clients using their “Be Boring. Make Money®” investment philosophy—an approach that has helped their clients navigate the investing landscape over many economic cycles. By selecting SimCorp’s flagship multi-asset, front-to-back investment management platform as their foundation, Mawer will benefit from sound technology and a flexible, scalable operational infrastructure to support its business objectives.
With one integrated, multi-asset platform through the front, middle and back office, Mawer will simplify its systems landscape and streamline key investment workflows from order execution, portfolio management, compliance and corporate actions, through to settlement. A live view of the firm’s Investment Book of Record (IBOR) and Accounting Book of Record (ABOR), will deliver increased transparency across the business.
Mawer will also benefit from a standardized yet flexible data solution, with SimCorp’s Data Warehouse Manager. With data proliferation on the rise, many firms are facing an uphill challenge in making market and operational data actionable and insightful. Automating data processes throughout the investment lifecycle, together with real-time, position/transaction keeping across all asset types in the front office, provides Mawer with the most optimized data for its investment decision-making.
Colin Zvaniga, Chief Operating Officer, Mawer Investment Management, comments: “We are pleased to select SimCorp as one of our key partners. Having completed a thorough evaluation of the market, we feel their consolidated front-to-back approach is the right choice to support our business objectives. SimCorp’s integrated, single platform will help drive the operational efficiency and resiliency required for future growth.”
James Corrigan, Executive Vice President and Managing Director of SimCorp North America comments: “We welcome Mawer Investment Management, who join a growing number of North American institutions choosing the industry’s first and only truly integrated, front-to-back, multi-asset platform, SimCorp Dimension. As diversification continues to play a significant role in global asset management, consolidating investment operations across multiple asset classes, has now become vital to support business growth. With the market’s leading, fully-integrated, single platform since inception, exhaustive instrument coverage and over 200 successfully implemented global clients, SimCorp’s approach delivers the right model for achieving a robust and scalable multi-asset infrastructure. With one unified source of data empowering the entire investment lifecycle, we are confident that Mawer Investment Management will establish the operational efficiency and long-term sustainability, it seeks to achieve its business outcomes.”
*License agreement signed in Q1 2020, with revenue recognition in Q3 2020
Enquiries regarding this announcement should be addressed to: Mittal Shah, Head of PR, SimCorp +001 (646) 843 1707mittal.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 Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com
About Mawer Investment Management Ltd. Mawer is an independent investment firm managing assets for a broad range of foundations and not-for-profits, pension plans, strategic alliances, and individual investors for over 45 years. For more information, please visit www.mawer.com.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets climbed to their best week of the year.
“It’s been almost a complete opposite or retracement of what we saw last week,” said Philip Petursson, chief investment strategist at IG Wealth Management.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
While last week saw a “healthy” pullback on weaker economic data, this week investors appeared to be buying the dip and hoping the central bank “comes to the rescue,” said Petursson.
Next week, the U.S. Federal Reserve is widely expected to cut its key interest rate for the first time in several years after it significantly hiked it to fight inflation.
But the magnitude of that first cut has been the subject of debate, and the market appears split on whether the cut will be a quarter of a percentage point or a larger half-point reduction.
Petursson thinks it’s clear the smaller cut is coming. Economic data recently hasn’t been great, but it hasn’t been that bad either, he said — and inflation may have come down significantly, but it’s not defeated just yet.
“I think they’re going to be very steady,” he said, with one small cut at each of their three decisions scheduled for the rest of 2024, and more into 2025.
“I don’t think there’s a sense of urgency on the part of the Fed that they have to do something immediately.
A larger cut could also send the wrong message to the markets, added Petursson: that the Fed made a mistake in waiting this long to cut, or that it’s seeing concerning signs in the economy.
It would also be “counter to what they’ve signaled,” he said.
More important than the cut — other than the new tone it sets — will be what Fed chair Jerome Powell has to say, according to Petursson.
“That’s going to be more important than the size of the cut itself,” he said.
In Canada, where the central bank has already cut three times, Petursson expects two more before the year is through.
“Here, the labour situation is worse than what we see in the United States,” he said.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
— With files from The Associated Press
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.