WINDSOR, Conn., April 29, 2014 (GLOBE NEWSWIRE) -- SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that Virtus Investment Partners (Nasdaq:VRTS) has chosen SS&C to provide middle- and back-office services for approximately $20 billion of separately managed, institutional and closed-end fund assets.
Virtus, a partnership of boutique investment managers, will use SS&C's dedicated outsourcing services and leading technology, Global Wealth Platform™ and other related technologies to support the unique and specific requirements of its affiliated asset managers. Services include support for account opening, order design and trading, true multi-currency accounting, performance measurement and attribution and web based client reporting.
"Partnering with SS&C on middle- and back-office services will give Virtus a flexible and scalable operational platform to support our current investment management activities and our long-term growth needs," said Frank Waltman, Executive Vice President, Product Management, at Virtus. "We chose SS&C because of their depth and breadth of expertise in this area and their ability to support our distinctive business model, which provides our affiliates access to best-in-class technology support that is customized to their specific needs."
"Virtus has done a superb job of growing its assets and adding distinctive managers into its partnership. Having diverse, high performing managers is a recipe for success and SS&C is very pleased to be selected to deliver a comprehensive solution," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Our investment operations services team, underpinned by world-class technology, helps asset managers execute business strategies better, faster and more predictably."
About Virtus Investment Partners
Virtus Investment Partners (Nasdaq:VRTS), which had $57.7 billion of assets under management at December 31, 2013, is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. Virtus offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs, and provides products and services through affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Its affiliated managers include Cliffwater Investments, Duff & Phelps Investment Management, Euclid Advisors, Kayne Anderson Rudnick Investment Management, Kleinwort Benson Investors International, Newfleet Asset Management, Newfound Investments, Rampart Investment Management and Zweig Advisers. Additional information can be found at www.virtus.com
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. Some 6,900 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $26 trillion in assets.
Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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