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SimCorp, a provider of investment management solutions and services for the financial services industry, reports that Eaton Vance Management, an investment management firm, has opted to make SimCorp’s Coric the new client reporting and communications platform for both its own operations and for its “majority owned affiliates,” including Parametric and Atlanta Capital Investment Managers.
Eaton Vance will employ SimCorp Coric to “automate the production of client communications, including quarterly client and investment reports, client statements, and fund fact sheets,” according to a SimCorp statement, which notes also that Coric will shorten reporting cycles and “require less manual work to complete, resulting in operational efficiencies.”
The result, according to the statement: “The Eaton Vance client relationship team, which manages the client reporting process, will be able to reallocate time and resources to client-centric servicing work, thereby enriching client engagement.”
The Eaton Vance deals comes nearly a year after SimCorp acquired UK-based Equipos, a reporting software developer whose main product was the Coric Client Communications Suite. Prior to the February 2014 acquisition, SimCorp held a 20 percent interest in Equipos.
Eaton Vance, which traces its company history to 1924, and its affiliates managed $297.7 billion in assets as of the end of October, according to the statement.
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