South African-based asset manager with $13B in AUM moves into Production with Confluence’s Delta solution
Confluence Technologies, Inc. (“Confluence”), a global technology solutions provider that helps the investment management industry solve complex investment data challenges, today announced it has expanded its relationship with Futuregrowth Asset Management (Pty) Ltd (“Futuregrowth”). Futuregrowth is a fixed-income asset manager headquartered in Cape Town, South Africa, and has approximately US$13 billion in assets under management.
Futuregrowth will now add Delta, Confluence’s multi-asset risk and performance analytics platform, to the suite of services it receives. Futuregrowth has partnered with Confluence for more than ten years and Delta will be the fifth Confluence product the asset manager will employ.
Delta, a web-based portfolio analysis and risk management solution, was acquired from UBS by StatPro in 2017, before StatPro’s own acquisition by Confluence in 2019. Delta’s API capabilities and its ability to perform calculations on the fly make the solution a perfect fit for front-office use-cases, like Futuregrowth, that continue to look for ways to integrate into the cloud.
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The strategic relationship expands Futuregrowth’s commitment to ESG and responsible investing. For Confluence, the expanded relationship is emblematic of the company’s continued growth in the EMEA region. It also further solidifies Delta as a robust and comprehensive risk solution with efficient fixed income functionality.
“The partnership with Delta has provided us with a robust platform to deliver multiple daily valuations for instruments, utilizing market data to generate curves and fixed interest valuations, in a systematic automated fashion,” said Barron Africa, Chief Operating Officer at Futuregrowth. The first phase was implemented in the first quarter of 2021 and the platform has already added value by providing sensitivity reporting to clients. The next phase, which will provide risk and value-added analytics, will be implemented later during 2021. Barron adds, “We had a very positive engagement with the Delta and Confluence teams. They met our specific objectives and development needs.”
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Futuregrowth will be evaluating Delta as they consider a possible migration onto the integrated Revolution platform in the near future, with Delta as a key component. “We are really excited that this partnership allows us to be at the forefront of fixed interest valuations and risk analytics, and providing this value added service to our clients,” said Barron.
“The use of Delta will provide Futuregrowth with the best-of-breed technology it needs to continue playing a leading role in the South African asset management industry,” said Confluence’s President and Chief Operating Officer, Todd Moyer. “As Confluence continues to grow its global presence—and invest in the South African market—we are honored to be working with a standard-bearer like Futuregrowth to provide the firm the cutting-edge solutions and efficient processes they need to succeed.”
Delta is a cloud-based platform, offering analysis of portfolio performance, attribution, risk and compliance. It helps clients reduce costs, improve their own client communications, and control investment decisions.
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