LIC Mutual Fund adopts Bloomberg Solutions for enterprise-wide digital transformation
LIC MF will use Bloomberg’s Asset and Investment Manager (AIM) and Bloomberg Vault across its investment workflows including research, fund management, trading, operations and investment compliance, enabling the firm to successfully navigate a fast-evolving market and regulatory environment
Bloomberg announced that LIC Mutual Fund Asset Management Limited. (LIC MF), one of India’s leading asset management companies, has adopted Bloomberg Buy-Side Solutions to enable enterprise-wide digital transformation and automation. LIC MF will use Bloomberg’s Asset and Investment Manager (AIM) and Bloomberg Vault across its investment workflows including research, fund management, trading, operations and investment compliance, enabling the firm to successfully navigate a fast-evolving market and regulatory environment.
Bloomberg AIM is a leading order management system and part of Bloomberg’s comprehensive buy-side solutions that offer multi-asset capabilities to support every stage of the investment life cycle. LIC MF will use Bloomberg AIM for portfolio analytics, order and execution management and trading compliance. The solution will help increase the asset manager’s efficiency and agility, thereby optimizing operations and provide tools for regulatory compliance.
Bloomberg Vault is a hosted service that offers compliance and surveillance functionality to LIC MF to help meet regulatory obligations and elevate business controls and standards. Vault enables firms to capture and archive their e-communications data and to perform proactive monitoring and surveillance to analyze such data on a real time or historic basis.
LIC MF has also expanded the firm’s subscriptions to the Bloomberg Terminal, which is used by the world’s leading business and financial professionals for real-time data, news and information.
Dinesh Pangtey, Whole time Director & CEO, LIC Mutual Fund Asset Management Limited said, “Amidst a constantly evolving regulatory and market environment, it is imperative for asset management companies to adopt best-of-breed technology to gain a competitive edge. We are pleased to partner with Bloomberg on our journey of digitalization while we prepare for future growth. Bloomberg’s holistic suite of solutions will help technological integration of our key functions and significantly boost efficiencies.”
Prashant Thakkar, COOT (Chief of Operations & Technology), LIC MF, said, “We are excited to partner with Bloomberg in bringing the change needed to meet increased requirements of data quality, integrity and availability, to facilitate investment decisions and controls around it.”
“We are pleased to partner with LIC MF to equip them with Bloomberg’s holistic suite of integrated solutions and help support them to their next stage of growth. We are constantly striving to provide clients with technology to help expand their capabilities, streamline their operations, improve investment and regulatory compliance workflows and aid efficiencies across the board,” said Rajiv Mirwani, Head of Enterprise Sales – South Asia, Bloomberg.
Bloomberg’s Buy-Side solutions deliver front-to-back technology for the investment lifecycle, from decision support and order management, to portfolio management and post-trade services, for some of the largest asset managers, asset owners, and hedge funds. Bloomberg AIM, a leading order management system (OMS), is used by nearly 15,000 professionals at over 900 client firms globally to manage more than $17 trillion in assets. PORT is a multi-asset portfolio and risk analytics solution that delivers advanced risk and return attribution models. PORT has 47,000 active users across 15,000 client firms globally. Bloomberg’s post-trade offering streamlines post-trade workflows and reduce operational risk through reconciliation, straight-through processing (STP), settlement exceptions and collateral management solutions.
