Aspect Capital opts for SimCorp
Hedge fund Aspect Capital has gone live with SimCorp's IT/2 treasury management system, enabling it to increase cash control and flow of management information. The system is in use both to manage cash within fund portfolios and for treasury control in the corporate entity.
Aspect, which manages alternative investments of $2.9bn across a range of funds, sees treasury control as a strategic requirement. "Aspect definitely shows farsightedness as a company, for even though its treasury has just recently made a step-change, Aspect is planning to ensure that the set-up provides for future changes in complexity," says Eileen Tindall, independent treasury specialist, who has been consulting at the firm.
An example of Aspect's changing treasury requirement is in foreign exchange risk management, where the establishment of subsidiaries in Switzerland and the USA has introduced more complexity. "By implementing a TMS we were not trying to save headcount or cut costs, but looking for a greatly improved control environment," explains Tindall.
Aspect Capital selected the system through SimCorp's IT/2 Choice option, whereby a free two month trial period is available and the system is offered with no initial licence fee.