ABN Amro scheme licenses ORTEC software
NETHERLANDS - Pensions software firm ORTEC says it has licensed its PALM asset liability management product to the €8bn ABN Amro Pension Fund.
ORTEC said the system allows the scheme "to conduct comprehensive risk analyses of its employee pension plan". Financial terms of the deal were not disclosed.
"These risk analyses will be used for corporate pension risk assessment and to support the plan in formulating effective long-term investment strategies," ORTEC added.
Managing director Fred Heemskerk said: "The selection of PALM by the ABN AMRO Pension Fund shows that there is a growing need for Asset Liability Management modelling expertise to make efficient strategic decisions."
Founded in 1981, ORTEC currently has over 800 customers, 500 employees and eight offices in Europe and North America.