Norway’s KLP extends use of SimCorp Dimension
KLP Kapitalforvaltning, part of Kommunal Landspensjonskasse, Norway’s biggest life insurer, has signed a deal to extend its existing licence with SimCorp to use its Dimension portfolio management software across its front office.
KLP Kapitalforvaltning has NOK326bn (€39.7bn) in fixed income and equity portfolios on behalf of its parent group and through 34 KLP funds. Extending use of Dimension comes after a tender process seeking to find a solution to further automate the investment process, KLP said.
Håvard Gulbrandsen, CEO at KLP Kapitalforvaltning, added: “We are confident that once implemented the front office modules will help us to further automate and optimize our investment processes, thereby managing both risk and cost more efficiently for the benefit of our clients,” says “In particular, the straight-through-processing capabilities, not just within the front office, but also to middle and back office processes will result in increased efficiency gains.”