Published on July 02, 2009
LGPI, the pension institution for local governments in Finland, has signed an agreement with Ortec Finance to license its Asset Liability solution for pension plans, Ortec Finance PALM. The ALM solution enables LGPI to formulate ALM strategies based on Ortec Finance state of the art scenario generation, asset and liability methodologies. The selection was made after a thorough search and evaluation process.
“Based on our extensive evaluation process, we selected Ortec Finance due to the strength of its offering as well as their proven experience in supporting organizations like ours throughout the strategy development process. While the technical evaluation of the tool is important to us, so is the partnership we expect to build with an organization like Ortec Finance” said Timo Viherkenttä, Deputy CEO, LGPI.
Tommi Moilanen, Investment Strategist added “at LGPI we focus on continuously improving our strategy development process: Ortec Finance will focus on providing the technology platform and making sure it is adapted to our specific circumstances allowing us to focus on what matters”.
“We are delighted that a professional organization like LGPI has chosen us and look forward to a long term strategic partnership with this team”, said Sinikka Demaré, Managing Director at Ortec Finance.
About LGPIThe Local Government Pensions Institution is responsible for providing and financing employment pensions for local government officeholders and employees in Finland. Its member organizations include all Finnish cities, other municipalities and joint municipal boards. Municipal associations and limited liability companies may also apply for membership. At the end of 2008, LGPI was managing assets of Euro 20 Bio.
About Ortec FinanceOrtec Finance is a global provider of technology and advice for risk and return management. Ortec Finance helps improve investors’ decision making and decision monitoring by encapsulating knowledge in software models. The company designs, builds, and applies solutions for asset-liability management and performance attribution. Established in Rotterdam in 1981, Ortec Finance has over 150 employees. Clients are located all over the world and range from pension funds, insurers and asset managers to municipalities, housing corporations and private wealth managers. Through collaboration with the academic community Ortec Finance remains at the forefront of innovation.
www.ortec-finance.comEditorial note:
For more information please contact Dave Hayward, Head of Marketing, Ortec Finance.