NETHERLANDS -- Hermes Investment Management has chosen consultancy and software developer Ortec as supplier of its asset liability management system, the Dutch company has announced.
According to Ortec, the system allows an institutional fund manager to conduct comprehensive risk analysis for its clients and supports them in formulating effective long-term investment strategies.
“Hermes decided to purchase the licence, after a successful project for the pension scheme of British Telecom”, it added. The BT Pension Scheme is Hermes’ owner and largest client.
“It’s an integral system which take into account both investments and liabilities,” Ortec spokesman Fred Heemskerk told IPE. “It has been especially adapted to satisfy the needs of the BT scheme.”
Ortec has been fine-tuning the ALM system over the past 20 years, having sold its first to the pension fund of Rabobank, he added.
“Since then, approximately 25 pension funds and insurers in Holland and abroad have chosen the system”, Heemskerk said. Hermes is Ortec’s first UK client for the system.
Hermes has £58bn (€86bn) of assets under management.