The State of Wisconsin Investment Board will be taking an outsourced IBOR in house via SimCorp.
Officials say that the State of Wisconsin Investment Board (SWIB) will be working with investment management solutions provider SimCorp to retire an outsourced investment book of record and bring the IBOR in-house to take advantage of real-time data on its positions and exposures across the organization.
Created in 1951, SWIB is an independent state agency overseeing the assets of the Wisconsin Retirement System (WRS), the State Investment Fund (SIF), and other state trust funds.
SWIB has more than $166 billion in assets under management (AUM) as of September 2024, and the implementation “marks a significant milestone in SimCorp’s expansion within the North American pension sector,” according to the provider.
“SWIB’s management of the WRS trust funds aims to provide a fully-funded public pension for over 691,000 current and former employees of state agencies, the university system, school districts, and most local governments within the State of Wisconsin,” according to the announcement. “The WRS consistently ranks among the 10 largest public pension funds in the U.S.”
Officials say that in addition to the SimCorp platform, SWIB will be using SimCorp’s Data Management Services.
“Our strategic partnership with SimCorp will support our mission to deliver strong investment returns for the beneficiaries of the Wisconsin Retirement System,” says Rochelle Klaskin, chief operating officer (COO) at SWIB, in a prepared statement.
A subsidiary of Deutsche Börse Group, SimCorp offers an integrated platform, services, and partner ecosystem. SimCorp includes Axioma Risk, a provider of a suite of risk, management, and portfolio construction solutions for buy-side firms. SimCorp was founded in 1971 and now has more than 3,500 employees across five continents, officials say.
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