Sydney, 6 April 2010 (ASX: BVA) – Bravura Solutions Limited (Bravura) – a leading global supplier of wealth management applications and professional services – has signed a five-year agreement with Australian Ethical, a specialist fund manager in ethical and sustainable investing.
The contract will see the implementation of Bravura’s Garradin investment management system which will replace Australian Ethical’s existing software that manages investment portfolio assets and unit pricing. Australian Ethical has over 17,000 investors and has focused on ethical investment for over 23 years.
“We selected Bravura as our preferred software vendor after extensive market analysis conducted by advisory firm, First Treasury, to ensure our specific requirements would be met. We believe Bravura’s Garradin software is the most suitable on the market, based on its functional strengths and its strong client experience in relevant markets,” said Gary Leckie, Chief Financial Officer for Australian Ethical.
Garradin caters for investment management and private client administration. It is a comprehensive, multi-currency solution with integrated asset management, registry and tax management functions. A fully modular solution, it can be deployed across multiple sectors including retail wealth management platforms (such as wraps, master trusts and managed accounts), wholesale investment management, registry and mutual funds, custody and private banking.
Simon Woodfull, Group CEO for Bravura said: “The project will deliver substantial cost savings through a consolidation process and will create streamlined, improved management processes and efficiency.
“We are extremely pleased to welcome another new client to our expanding portfolio this year and look forward to working with Australian Ethical to deliver this project,” said Woodfull.
The project implementation will commence in April 2010.