Successful migration of Former European Reliance MFMC Mutual Funds to PCS Wealth Management Platform
PCS announces the successful completion of the project to transition the daily valuation of European Reliance Mutual Funds to the award-winning PCS Wealth Management platform.
The project involved the transfer of nine Mutual Funds from European European Reliance MFMC to the PCS Wealth Management platform. PCS Wealth Management is already adopted by the new unified MFMC and is used for the valuation of eight Mutual Funds of Allianz Asset Management MFMC. The tasks included the transfer of active positions of the Mutual Funds and their respective classes, the full automation of accounting monitoring, as well as a range of installation, parameterization, and support services.
It is noteworthy that PCS systems daily assess 300 out of the 390 Mutual Funds currently available in the Greek market, representing approximately €11 billion in assets under management or 75% of the total (based on data from Hellenic Fund and Asset Management Association).
PCS Wealth Management solution is built on modern technologies, incorporates best international practices, and fully covers all functional expectations while meeting regulatory and institutional requirements. Simultaneously, it minimizes operational risks and the daily costs of the organization through the automation of time-consuming and repetitive processes.
George Xenofos, Vice President & CEO of PCS SA, stated: “The successful completion of this project confirms our commitment to leverage advanced technology and operational expertise that we have gathered to provide high-level services to Professional Fund Managers who trust our solutions. We are particularly pleased to have completed this project according to the initial schedule, within the agreed budget, and fully satisfying the expectations of the management of Allianz Single-Member Mutual Fund Management Company. The fact that PCS systems assess 75% of the market daily demonstrates concretely the company’s leading position compared to its competitors.”