Brazil's BBM choses SunGard's Asset Arena for investment accounting operation
Asset management firm located in Rio de Janeiro, BBM Investimentos (BBM) has selected SunGard’s Asset Arena Investment Accounting system to automate its fund accounting process.
Asset Arena offers investment operations processing and accounting support for a wide range of assets, countries and investment activities.
BBM noted that it is the first customer for SunGard's Asset Arena in Brazil and chose the system to support global and Brazil-specific requirements through a single platform.
BBM COO Miguel Flaksman said that we chose Asset Arena because of SunGard's local presence, the scope of instruments covered, and the company's capabilities in implementation, maintenance and support.
"Asset Arena can help support the globalisation of the Brazilian market by handling both Brazilian and offshore instruments," added Flaksman.
Asset Arena supports the entire investment process involving portfolio management, risk management and compliance to investment accounting, transfer agency and client reporting.
BBM stated that Asset Arena will enable the company to move to a more automated environment, and will help improve accuracy and risk management while eliminating manual processes and work duplication.
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