Samco Mutual Fund, a leading asset management service provider in India, has gone live with MFund Plus™, Azentio’s Wealth, Investment and Asset Management Solution, to meet its front-office business process requirements. MFund Plus™ will provide the client with a robust, comprehensive and proven technology solution, covering automation of both Securities and Exchange Board of India (SEBI) mandated guidelines and internal audit policies.
Primarily a greenfield project, the solution implemented at Samco Mutual Fund, includes an extensively featured Order Management module to manage different asset classes, such as equity, debt, mutual fund and derivatives, among others. It also includes a highly customised in-built report engine and task scheduler.
MFund Plus™ will help the client meet all its end-to-end audit, regulatory and internal MIS requirements. All relevant SEBI directives have been configured in the system to detect any regulatory breach.
The MFund Plus™ order was won despite other leading global as well as regional technology solution providers, being in the fray. What went in Azentio’s favour was its strong presence in the asset management space for over two decades; and the outstanding flexibility of the solution to address the myriad process requirements around the investment management lifecycle from order mandates to pre-trade compliance, dealing, settlement, cash management and reporting. The Azentio team also helped the client extensively during different stages of the implementation, which also included fielding queries from SEBI’s inspection team.
About the Client
Samco Mutual Fund is one of the biggest asset management companies in India, focused on meeting the diverse needs of investors through a wide range of equity, debt and money market offerings. It is sponsored by Samco Securities Ltd., one of most profitable discount brokers in the country, with over 250,000 customers.