We are thrilled to announce Varma, one of Finland's largest earnings-related pension insurers and private investors, with approximately 57,5 billion euros in assets across various asset classes, has embarked on a transformative journey with Ortec Finance's PEARL solution.
Varma wanted to improve their existing performance measurement capabilities to cover all the decision-making levels and decisions made within the investment organization and to distribute the performance data within the organization in a flexible and efficient way.
Ortec Finance's PEARL solution was the answer to Varma's needs. By choosing PEARL, Varma gained the ability to:
- Deal with the complexities when assessing the effectiveness of currency overlay management.
- Maintain a portfolio reporting structure that dynamically adapts to Varma's reporting hierarchy.
- Drill down into constituent-level benchmarks, composites, and attributes.
- Extract performance data through APIs to enhance reporting processes and capabilities.
Ortec Finance proposed a Software as a Service (SaaS) setup of its PEARL performance measurement solution, implemented in phases over a 12-month period. The implementation process began with a Definition Study that outlined all key components of the new setup and defined milestones, including benchmark and decision analysis, currency overlay attribution analysis, equity attributions, and duration reporting. These milestones formed the core PEARL foundation that Varma built on throughout the rest of the implementation.
In the final phase of the implementation, Ortec Finance provided Varma with user training for PEARL. Armed with this knowledge, Varma conducted acceptance testing, enabling an evaluation of the key milestones outlined in the Definition Study.
Antti Ihalainen, Head of Middle Office, Varma: "Ortec Finance's PEARL solution has truly enhanced our performance measurement and attribution capabilities. Varma's investment organization benefits from increased understanding of the sources of value-added and from detailed assessment of our investment decisions. With PEARL, we've gained invaluable insights into our investments, streamlined our investment portfolio reporting, and have become more adaptable for any possible future changes in our investment processes. The implementation went smoothly with the expert guidance and training provided by Ortec Finance, and it was completed on time and within budget."
Oliver Henriquez, Director, Investment Performance – EMEA, Ortec Finance, added, "At Ortec Finance, we believe in empowering our clients with innovative solutions that drive transformation and success. Varma's journey with our PEARL solution exemplifies our commitment to addressing complex challenges in the investment management landscape. We are proud to have played a pivotal role in enhancing Varma's performance measurement and attribution capabilities, and we remain dedicated to delivering excellence and driving impactful change for our clients."
Ortec Finance is a leading provider of investment decision technology and solutions, with decades of experience in delivering innovative solutions to financial institutions globally and are recognised as one of the world's most innovative FinTech companies in 2023.
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About Ortec Finance
Ortec Finance is the leading provider of technology and solutions for risk and return management. It is Ortec Finance’s purpose to enable people to manage the complexity of investment decisions.
This is accomplished via the delivery of leading technologies and solutions for investment decision-making to financial institutions around the world. Ortec Finance’s strength lies in an effective combination of advanced models, innovative technology, and in-depth market knowledge. This combination of skills and expertise supports investment professionals in achieving a better risk-return ratio and thus better results.
Headquartered in Rotterdam, The Netherlands, Ortec Finance has offices in Amsterdam, London, Toronto, Zurich, New York, and Melbourne. Ortec Finance helps 600+ clients manage their $15 trillion assets under management.
Varma Mutual Pension Insurance Company provides pension insurance for work carried out in Finland. We take care of the statutory pension cover of private entrepreneurs and employees. Varma provides pension cover for 970,000 employees, entrepreneurs, and pensioners. At the end of September 2023, the value of Varma's investments was EUR 57.5 billion.
We invest the assets collected as pension contributions profitably and securely for current and future pensions. Varma is a responsible and solvent investor. We mainly invest in fixed income, equities, and real estate, and in hedge funds. As a real-estate investor, we focus on offering high-quality business premises and rental flats in growth centres. We also offer corporate financing to our customers.
Our services in work ability management help client companies save in pension costs and private customers to continue in working life.
Varma is a mutual company, owned by its client companies, self-employed customers and insured employees. Varma’s head office is located in Salmisaari, Helsinki, and our network of account managers covers nearly the entire country.