Virtus Partners, a US-based provider of fixed-income asset administration services, has partnered with VPM, SunGard’s asset management business, to launch an integrated bank debt service.
The new service will combine Virtus’s global load data feed with VPM.
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The new solution will enhance operational efficiency by reducing manual data input and streamline operationally onerous bank loan processing.
Additionally, the bank debt service aims at creating an end-to-end loan administration, accounting, and reporting solution for bank debt management. The offering aims to grow the asset class’s usage among buy-side managers.
Scott Alintoff, COO for SunGard VPM, said: "This includes asset classes such as bank debt, which provides portfolio diversification and offers potential returns that can outperform high-yield bonds and other investment options; yet, alternative asset managers diving in without full knowledge of the complexities of bank debt may find themselves ill-prepared to handle this asset class."
Adds Kelly Faykus, managing director at Virtus Partners, said: "There is a similar ambition and focus on long-term scalability in SunGard and we were impressed with the technical sophistication of the VPM solution, as well as the collaborative approach and leadership strength of the team."
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