Bell Asset Management, a Melbourne-based buy-side firm, has selected Bloomberg's Asset and Investment Manager (AIM) order management system to support its front- and middle-office businesses.
The buy-side firm, which has US$3.5 billion assets under management, will use AIM for strategy management, compliance, financing, trade settlement, portfolio analysis, order management and electronic trading, in order to help it manage global equity mandates for domestic and international institutional clients. Bell Asset Management already uses Bloomberg AIM for order management.
“We needed to upgrade our portfolio management system and it was vital to get the right system in place to support our growth. Having used Bloomberg for our core research, we decided to look at Bloomberg AIM for our order management, risk and performance,” said Ned Bell, CEO, Bell Asset Management. “We have much better functionality than before and it is saving us money.”
“Fund managers are looking for ways to cut costs in support areas and many will need to replace various third-party providers,” added Amanda Dobbie, Bloomberg's head of sales for Australia and New Zealand. “Bell Asset Management is a perfect example of how an investment management firm can cut costs, but increase efficiency and compliance services.”