SimCorp wins WAVE deal in Germany

WAVE Management AG, the asset management unit of the German VHV insurance group with over €14bn in assets under management, has chosen SimCorp Dimension as its future investment management system.

The Hannover-based company will be using SimCorp Dimension in the areas of portfolio management, compliance, risk management and performance measurement. In addition, the data needed to comply with Solvency II will be delivered by the system. SimCorp Dimension will be used for WAVE’s entire book of records and will enable look-through into underlying securities of externally managed funds so that the firm will know its total exposure.

Lars Rothe, WAVE’s board member responsible for the project, said: “The first objective of the SimCorp Dimension implementation is to professionalise further our asset management processes. As an integrated solution and with its high degree of automation, we expect SimCorp Dimension to help us achieve valuable efficiency gains.”

WAVE and SimCorp first entered an agreement in late 2011. Wave advises institutional clients on strategic asset allocation,  investment and risk reporting. it manages mutual and institutional funds, including private investor funds such as WAVE Total Return Fund.

The manager’s core retail business is based on reinvestment of matured life insurance and other liquid assets.

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