Notification 30.12.2014

The new Portfolio Management and Accounting System at SOFAZ

The UK based “SimCorp Limited” has been declared as the winner of the open tender process run by the State Oil Fund for the Portfolio Management and Accounting System. The selection process followed a competitive bidding process amongst a pool of leading firms in the industry.

The need for a new Portfolio Management and Accounting System emerged after the introduction of new asset classes and creation of a multi-asset portfolio, following the Amendments to the “Investment Guidelines” approved by the Presidential Decree in 2011. The underlying goal of the system is to support the Fund’s all investment activities. The business functions that will be supported include: portfolio management, order management, compliance management, post-trade processing, settlement processing, risk management, performance measurement and attribution, accounting and reporting.

The public tender process was conducted in compliance with the Law of the Republic of Azerbaijan on “Public Procurements” and the agreement on licensing the system, implementation and maintenance services was signed on 26 December 2014.