Melbourne-based investment company Bell Asset Management has adopted Bloomberg’s Asset & Investment Manager (AIM) order management system for front and middle office solutions.
Bell AM, which has over AUD3.5 billion in funds under management and administration, already uses Bloomberg AIM for order management. Now, Bell will also use AIM for its front and middle office capabilities including strategy management, compliance, financing, trade settlement, portfolio analysis, order management and electronic trading. The added Bloomberg technology will help Bell manage its global equity mandates for domestic and offshore based institutional clients.
"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. We were amazed at the superiority of the functionality AIM offers," says Ned Bell, Bell Asset Management’s Chief Executive Officer. "We have much better functionality than before and it is saving us money. The implementation was painless and took less than a month for the complete migration to Bloomberg."
Amanda Dobbie, Bloomberg’s head of sales for Australia and New Zealand, says: "Fund managers are looking for ways to cut costs in support areas and many will need to replace various third-party providers. Bell Asset Management is a perfect example of how an investment management firm can cut costs, but increase efficiency and compliance services."