Australian-based global equity manager Platinum Asset Management is to deploy NeoXam’s integrated software-as-a-service (SaaS) solutions for investment data, performance measurement, and client reporting.
Platinum will use the data management platform to manage reference, market and investment data within a single, centralised enterprise repository, allowing the firm to automate and enrich its data processes and books of records across BOR, ABOR and PBOR. The equity manager will also deploy NeoXam’s performance measurement and analytics modules for both internal (management and operations) and external (regulatory and client) reporting.
Speaking exclusively to BEST EXECUTION, Daniel Joseph, country head for Australia at NeoXam, said: “Having qualified data readily available throughout the business is a precondition to the proper execution of so many vital processes, and best-of-breed data management tools and processes are the backbone.”
“Centralising sourced data into an intermediary data management layer is often considered the best practice when it comes to meeting regulatory requirements, for example. These systems also help to ensure that organisations are getting maximum value from the increasing amount of data that they purchase from external vendors, as they are able to use it in a more efficient way,” Joseph added.
For NeoXam, the deal reflects its focus on the Australian market as part of its global expansion efforts. The Platinum deal comes a year after private equity house Eurazeo completed a €100 million investment in NeoXam to become its majority shareholder. The investment is supporting NeoXam in growing its data management and reporting segments, as well as expanding its international presence in Asia, Australia, Northern Europe and North America.
Joseph said the firm has built considerable traction over the last couple of years globally and especially in APAC. “The company has committed to investing in the Australian and New Zealand markets and has a local presence in Australia, which helps us to better serve our clients in the region.”
Strategic Programmes manager at Platinum Asset Management, Rodney Cowled, said: “Platinum has chosen NeoXam to be the solution partner for our NextGen TOM, which will modernise our technology and data platform. Critically, NeoXam’s cutting-edge technology will enable us to create centralised data capabilities to service the enterprise, while retaining accountability for data operations and governance.”
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