SS&C chosen for asset management at Daman Investments

Daman Investments PSC, one of the most well-known UAE investment companies, will collaborate with Advent Portfolio Exchange (APX) to develop its capabilities when dealing with asset management technology.

SS&C Technologies Holdings Inc. (SSNC) announced the partnership last week.

APX was chosen because of its reputation for simple and integrated features. The platform will offer a variety of tools including, portfolio management, fund accounting and performance analytics, as well as the recognized experience from SS&C's global presence. The platform is also beneficial as it offers multilingual reporting with specific support in Arabic language.

"Daman's client-centric approach over the years has allowed us to deliver superior risk-adjusted returns and APX will help us further strengthen our investment management & client-reporting capabilities," Farid Samji, head of asset management at Daman Investments, said. "SS&C's APX provided us with a compelling solution, which was not only compliant with the Global Investment Performance Standards (GIPS) but also had a robust implementation track record and support in the region."

SS&C has gained the trust of more than 30 clients since birthing in 2006. The company’s continued success is a result of having a deep understanding of the region’s investment management practices, continuing a heavy local presence, and offering globally recognized technology and office solutions.

"The team went through an extensive evaluation process before selecting SS&C, and we are honored to work with Daman Investments and support their investment efforts in the region," Mats Berggren, vice president EMEA, SS&C Advent, said. "APX will dramatically help Daman Investments enhance its client focus and reporting capabilities in an increasingly competitive marketplace."