BOSTON & QUEENSLAND, Australia–(BUSINESS WIRE)–Aug. 17, 2003–ADD to BW 5001 (MA-EAGLE-INVESTMENT) after seventh graph xxx service to its clients.
New text as follows:
For more information about QIC, please visit www.qic.com.
The corrected release reads:
QIC Deploys Eagle’s Portfolio Management Solution;
Eagle’s Leading-Edge Technology Positions QIC for Further Growth
Eagle Investment Systems Corp. today announced that QIC, one of the largest wholesale fund management organisations in Australia, has gone live with Eagle PACE(TM) to help manage its A$27.8 billion in assets under management. Selected by QIC for professional services, Citisoft successfully managed the implementation project.
Known in the Australian marketplace as a driver of innovative technologies, QIC selected Eagle PACE because of its robust architecture and flexible rules-based reporting capabilities. Eagle PACE, which went live on 30 June 2003, will replace internally developed systems that store and report on QIC’s investment data. QIC operates in an environment where unit pricing, product accounting, performance calculations, and stock level attribution for a significant proportion of the investments are daily deliverables.
A key factor in choosing Eagle PACE was its ability to deal with disparate data sources encompassing custodian, benchmark data, and unit trust data. The product design has allowed QIC to build entities within a single data repository that will support reporting at the client, asset class, or product level by security, portfolio, region, or manager over time.
“Our key objective was to replace QIC’s existing data repository with an easy-to-manage system that helps expand our business,” said Dr Doug McTaggart, chief executive of QIC. “Eagle PACE has well-positioned QIC to expand our client base and modify our business model without compromising the timeline and QA processes that are already in place.”
“QIC is very forward thinking and innovative in its approach to implementing new technologies for improving business operations,” said Jack Riley, Eagle’s CEO. “We are seeing an increased demand for our unique data-centric solutions in the Australasian marketplaces, and we are thrilled that a prominent organisation such as QIC has expanded Eagle’s market presence in this region.”
Eagle PACE is a Web-based investment data hub and portfolio management system that provides financial organisations with the latest functionality in portfolio management, including performance measurement and attribution, drill-down reporting and data monitoring. Its unique architecture enables organisations to extract, scrub, enrich, and store investment data from unlimited sources into one data repository. Eagle PACE also provides access to a growing list of major industry interfaces from trading, pricing, analytics, custodial, and accounting systems.
About QIC
QIC is one of Australia’s largest wholesale funds managers. The Corporation consistently provides above industry-average returns on the A$27.8 billion of funds currently under management. QIC is a progressive organisation, comprised of disciplined, well-qualified professionals with a strong focus on ethics and integrity. Operating on a wholly commercial basis, QIC believes in independent decision-making, using risk controlled but performance-focused management. With access to all major world markets and a commitment to leading edge research and innovation, QIC provides a full investment management service to its clients. For more information about QIC, please visit www.qic.com.
About Eagle Investment Systems
Eagle, a Mellon Financial Company(SM), is a global provider of financial services technology. Eagle’s Web-based systems automate internal systems to support STP requirements of money managers, mutual funds, hedge funds, brokers, plan sponsors, banks, corporate trusts, and insurance companies. Eagle provides solutions for portfolio management, investment accounting, performance measurement, attribution, AIMR/GIPS compliance, reporting, messaging, reference data management, and outsourcing. To learn more about Eagle’s solutions, contact us at 1.800.810.3819 or sales@eagleinvsys.com or visit www.eagleinvsys.com.
About Mellon Financial Corporation
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world’s leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately $3.1 trillion in assets under management, administration or custody, including $612 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at www.mellon.com.
