Assenagon Asset Management
Assenagon is an asset manager specialised in the management of capital market risks. Their services are complex and largely automated - including the settlement of ongoing commissions for sales partners and institutional clients. Sowatec is the company behind calculo, the software they employ. It is a reliable solution for calculation now and in future.
Success Story
Company
Assenagon is an asset manager specialised in the management of capital market risks. Their services are complex and largely automated - including the settlement of ongoing commissions for sales partners and institutional clients. Sowatec is the company behind calculo, the software they employ. It is a reliable solution for calculation now and in future.
Interviewee
Simone Alanne is responsible for Sales Operations in Asset Management. Her position includes responsibility for the whole commissions management process. And she was the technical project manager responsible for the implementation of calculo for the billing of trailer fees.
Details
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Background
Assenagon offers tailored contracts via a network of more than 60 sales partners. With the number of sales contracts and funds growing, a software solution that automates the calculation and administration of the commissions is required. Such a solution would save enormous amounts of time and effort.
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Goal
To implement a flexible and scalable software solution that will optimise, and to a large extent automate the time-consuming and complex administrative and computational processes asssociated with commissions management.
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Solution
calculo is a solution based on "Business Rules Management (BRM)" technology. It supports the whole calculation process: from data import through clearing and release to reporting.
Read an excerpt from the interview with Simone Alanne. She is responsible for Sales Operations in Asset Management.
Assenagon is one of the fastest growing asset managers in Europe. How big is the investment volume?
In 2012, Assets Under Management increased from EUR 7.4 billion to 12.36 billion. This corresponds to a growth rate of 67 percent. Of this total, 4.32 billion are invested in 16 sub-funds. Different conditions apply across the funds. We have also launched 22 share classes for different types of target investors. The fees, minimum investment contributions, currency and dividend policy are aligned with the investment strategy of each group of target investors.
You have individual agreements with around 60 partners - that means fairly complex commissions management.
Our contracts vary to suit the focus of our business partners. Besides differing national practices, we also have to take regulatory aspects into consideration. The more individualized the contract, the greater the legal review burden for both parties. So to avoid errors, structured processes are essential.
Why do you use three different methods for the calculation of fees?
Basically, we have the typical market standard modes of calculation available. But to remain flexible, we offer additional calculation methods. Another reason is the need to distinguish between share classes for institutional and private clients: Trailer fees for i-shares depend on the timing of investments and investment volume. Because of the predominance of large investment volumes, we use a modified calculation basis for individual calculations.
Learn more about calculo
Our customers need flexible and powerful solutions in response to the complexity of regulatory challenges and complience requirements. Sowatec’s software solution calculo is modular and meets the sophisticated needs of all our customers.
Learn more about calculo
Our customers need flexible and powerful solutions in response to the complexity of regulatory challenges and complience requirements. Sowatec’s software solution calculo is modular and meets the sophisticated needs of all our customers.
