FinEng Solution - Media - HSBC Asset Management Company (AMC) selects Quantis

HSBC Asset Management Company (AMC) selects Quantis to manage the Employee Provident Fund (EPF) corpus

Mumbai August 2008: FinEng Solutions announced today that HSBC AMC, one of the private fund managers chosen by The Employees’ Provident Fund Organization (EPFO) in India for managing the EPF corpus, has selected Quantis as their Funds management solution.

“Quantis has the capabilities to assist HSBC AMC throughout the investment management process providing them a single system for tracking and analyzing portfolio performance and also abiding by the compliance of regulatory and investment norms.” said, Anish Chandra, Business Head Quantis. He also pointed out that Quantis provides the following key business benefits to HSBC:



	HSBC AMC is an existing Quantis client using it for their Mutual Fund operations. Hence, the familiarity of the application with the users makes it an automatic choice for a fast, target driven implementation with minimum time frame required for training and UAT.

	The EPF portfolio primarily looks at investing in fixed income securities with a long term view. That makes Quantis an obvious choice because of its strength in managing fixed income portfolios.

	Strong parameterized compliance engine capable of capturing all regulatory limits prescribed by EPFO without any development effort and for making those operational in the least possible time.

	Scalable and minimum TAT for incorporating any customization that may be required as per EPFO requirements.

“HSBC’s decision to use Quantis for managing the EPF corpus portrays confidence bestowed upon the product by the existing users and also opens up a new business frontier of managing PF portfolios for the product. It’s just a matter of time when PF portfolios would be managed by independent asset managers” said, Sandeep Bhandarkar, Managing Director and Chief Executive Officer.

About FinEng

FinEng is a software company developing and supporting products for the financial services industry. Its expertise is in institutional funds management, wealth management and credit risk. FinEng has 2 offices located in Mumbai and Chennai with 130 employees and has a global clientele.

HSBC Global Asset Management in India

HSBC Asset Management (India) Private Limited is the Investment Manager to HSBC Mutual Fund, set up locally by the HSBC Group. HSBC Mutual Fund is the brand name adopted by HSBC Asset Management (India) Private Limited. The business is working on ambitious plans to position itself as one of the leading Private Sector Fund Managers in the Indian financial market - one of the most promising markets in Asia. It also aims to expand its customer base by extending its product range to include a wide variety of investment products and enhance its reputation in India of being a provider of international quality investment products and services.

For further information please contact media@fineng.com