Driving growth in a specialized market
BEA Union Investment
BEA Union Investment, a unique joint venture between the Bank of East Asia, Limited of Hong Kong and Union Asset Management Holding AG of Germany, is following a path of specialization by focusing on local Asian assets. As the firm celebrates its tenth anniversary, its AUM has grown to more than US $13 billion. Read the highlights below or download the full case study.
“
Bloomberg buy-side technology is very strong in fixed-income and has really helped us. From research, portfolio construction, trading, and compliance monitoring to connections with fund administrators, Bloomberg provides a convenient solution that fits in well to our scale and our journey to growth.
Eleanor Wan, CEO, BEA Union Investment
Situation
To spur growth after a change in executive leadership, BEA Union Investment searched for a system that would help them synchronize their effort. The firm required a system that could handle the Asian equities and fixed-income assets that were its specialty, as well as provide local support.
Needed a front office system that would be cost-effective for a small team
System had to be hosted so the firm wouldn’t need to maintain servers
Problem
BEA Union Investment used different systems for portfolio management, trading, and back office tasks, with staff seeing inconsistent numbers depending on which system they were using.Â
In addition, insufficient licenses meant that asset managers had to re-enter trades after the trades were confirmed with brokers, which was done manually.
The front office and the back office were not communicating very well
The firm’s system was not set up to serve more highly specialized needs remotely
Solution
After an extensive RFP process, the firm selected Bloomberg buy-side technology to meet its specialized asset management needs. One of the most important criteria was to handle portfolios under the Mandatory Provident Fund (MPF), a Hong Kong pension system.
Bloomberg’s Asset and Investment Manager (AIM) solution covers the vast majority of MPF’s fund-specific investment strategies and compliance workflows.
The firm now has one system for portfolio management, trading and back office tasks
PORT+ helps to synchronize communication through consistent, timely and reliable reports
Specialty asset managers use hosted, locally supported solutions
“
The PORT+ module makes it much easier to analyze fixed-income instruments than other systems we have tried. Plus, it’s very efficient to choose PORT+ because it is already part of Bloomberg.
Eleanor Wan, CEO, BEA Union Investment
Benefits
Growth in core competency enabled by more flexible technology workflow from front office to back
PORT+ covers a majority of attribution and risk reporting needs across the firm’s front office, business intelligence and performance teams
Platforms integrated directly with the Bloomberg Terminal provide consistency, with all buy-side tools nurtured with the same data