Financial Risk Solutions (FRS), a Dublin-headquartered provider of unit linked investment administration and compliance oversight software, has expanded its operations into the Australian investment administration software market.
This move builds on the firm’s 2018 expansion into Asia, and has been assisted by the recent acquisition of FRS by Constellation Software Inc, a provider of software and services to public and private sector markets globally.
FRS’s expansion into the Australian market has been driven entirely by industry demand for the Invest|Pro system, as many administrators and investment management firms prepare for potential disruption caused by new technology-based entrants over the coming years. Demand has been based around Invest|Pro’s capacity to provide: unit pricing; fund administration; automated cash allocation, rebalancing and trade order management; and oversight.
The company is currently in advanced talks with a number of new clients and will start work this month on-boarding Invest|Pro at one of Australia’s leading fund groups, which has a portfolio valuation of approximately AUD10 billion. The software is being delivered in a cloud deployment on Microsoft Azure locally in Australia.
FRS Managing Director Asia, Matthew Baldwin, says: “Unit pricing and fund admin projects can be complex. FRS is proud of its proven track record of delivering its Invest|Pro™ software within the agreed timeframe and at the agreed budgeted cost.
“This move into the Australian market is incredibly exciting for everyone at FRS and culminates a period of growth, both in terms of geographical expansion but also AUM on the Invest|Pro system, which with our new clients in Australia will be above A$300 bn. Joining the Constellation family means that we have operational support, (which includes 1,800 staff operating in the Australian software industry), as well as associating our brand with theirs, which has an exceptional reputation throughout Australia and Asia Pacific.”
