Eagle Investment Systems LLC, a BNY Mellon company, today announced that QIC Ltd is live using Eagle’s enterprise data management and performance and attribution solutions, hosted on Eagle ACCESSSM, a secure private cloud.
QIC, the investment fund for the Queensland government with over A$81 billion in AUM (as at 31 March 2017), selected Eagle as part of an operational transformation project to improve the transparency, quality, and ownership of its investment data. QIC, which had outsourced its data management and performance measurement functions to a global custodian, sought to supplement the outsourced services and reduce internal IT costs associated with maintaining its own proprietary technology infrastructure. QIC turned to Eagle to provide a data management and performance measurement solution to enable advanced performance reporting, returns and exposure analysis.
“We are quickly realising the benefits of using Eagle,” said Mark McDonald, Executive Director at QIC. “In addition to improving the integrity of our data and instilling more flexibility in our performance reporting function, we have achieved greater efficiency and the ability to support the growth of our alternative assets business. We are also now able to automate a number of complex calculations that were previously handled manually using spreadsheets.”
QIC’s performance function supports all asset classes, including fixed income, equities, global strategies, real estate, private equity, infrastructure investments and derivatives. The new performance solution also includes a number of customised configurations to meet complex requirements and methodologies for reporting on international investments, as well as supporting multi-sector contribution and multi-level performance reporting.
“We are delighted that QIC has implemented Eagle Data Management and Performance,” said John Legrand, Managing Director for Eagle in EMEA and APAC. “We are working with a growing number of asset owners in Australia that are looking to improve efficiency and assume greater control over their assets, as they grow and diversify their product ranges. We look forward to further developing our relationship with QIC as they continue to refine and optimise their operational model to achieve greater efficiencies.”
QIC is a global diversified alternative investment firm offering infrastructure, real estate, private equity, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$81.1 billion (US$61.9/£49.4 billion) in funds under management (as at 31 March 2017), offering infrastructure, real estate, private capital, liquid strategies and multi-asset investment services. QIC has over 700 employees and serves more than 110 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US. Headquartered in Brisbane, Australia, QIC also has offices in New York, San Francisco, Los Angeles, London, Sydney, and Melbourne.
Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESSSM. Eagle deploys trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2017, BNY Mellon had $30.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).