Industry superannuation fund HESTA has partnered with cloud investment platform SimCorp Dimension to support its investment management functions.
In an announcement, the firms said SimCorp would allow HESTA to deliver the scale needed to sustainably support the growth of its internal and external investments.
HESTA chief investment officer, Sonya Sawtell-Rickson, said: “With our projected rapid growth and decision to internalize a portion of investment management, it was critical we found a partner who understood the needs of pension funds and could support our ability to scale, in order to provide cost savings for members.
“SimCorp, not only successfully demonstrated this, but also met the needs of our diverse investment universe. Our technology investment marks another significant step forward in the implementation of our investment strategy, which supports us to continue delivering strong, competitive long-term returns for members at the lowest achievable cost and risk exposure.”
Also commenting, SimCorp senior vice president and managing director, Oliver Johnson, said his firm was “confident that the scope of our partnership, including vital front office delivery, together with a cloud infrastructure and managed services, will provide HESTA with a consolidated and complete offer to reinforce its investment operations and successfully deliver on its long-term business goals”.