MutualFundWire.com: Rydex Taps SunGard's Asset Arena
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Monday, April 06, 2009|
Rydex Taps SunGard's Asset Arena
Rydex Investments has turned to SunGard's Asset Arena investment accounting solution to help with fund accounting, reporting and data consolidation. This comes as Rydex is being integrated with Security Global Investors.
Rockville, Maryland-based Rydex was purchased by Security Benefit in a deal that closed in January of last year. In January 2009, the Topeka, Kansas-based insurer announced the integration of Rydex into its other asset management business, Security Global Investors.
"Rydex's integration with Security Global Investors has presented an opportunity to streamline our operational infrastructure as we combine two distinct yet complementary fund complexes," said Joseph Arruda, senior vice president of Rydex Investments.
Company Press Release
Lombard, IL, April 6, 2009 – Rydex Investments, a Rockville, Maryland-based asset management firm known for bringing institutional-style investments mainstream, has selected SunGard’s Asset Arena to help address its needs in fund accounting, reporting and data consolidation. Delivered as an ASP solution, SunGard’s Asset Arena Investment Accounting solution will provide support for Rydex’s entire book of business as the firm seeks to consolidate operations with its sister asset management firm, Security Global Investors.
“Rydex’s integration with Security Global Investors has presented an opportunity to streamline our operational infrastructure as we combine two distinct yet complementary fund complexes,” said Joseph Arruda, senior vice president of Rydex Investments. “We’re confident that SunGard’s technology, combined with its experience and knowledge, will help us to manage our combined business processes in an optimal and efficient manner.”
Doug Morgan, president of SunGard’s institutional asset management business, said: “SunGard’s Asset Arena helps our customers become more efficient across their operations. Rydex Investments and Security Global Investors are excellent examples of asset managers with the need to manage a variety of complex processing, reporting and data requirements on a single fund accounting platform. By selecting Asset Arena Investment Accounting, Rydex has helped demonstrate SunGard’s ability to provide solutions that address the unique business requirements of today’s asset managers.”
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