SWEDEN - The Fourth Swedish National Pension Fund (AP4) has appointed VPD Financial Software Consulting to provide software which automates complex transfers of risk data, including quality checks.
AP4 said it chose the VPD BarraOne VSI software because it required a solution which would effectively link its performance measurement and attribution systems with the risk models provided through BarraOne - an external multi-asset risk analysis tool from MSCI Barra.
The software aims to help automate data management for risk and performance purposes by automating complex transfers of data to and from BarraOne, including data quality checks.
But because the sources of data will be different for each client VPD claimed the system has been built to integrate with any modern system or database such as in-house data in accounting, portfolio and other systems.
Göran Schubert, head of risk control at AP4, said: "The solution is designed to exactly match our requirements. As we are advanced users of risk data, we find this software an optimal solution to meet our extensive risk data management requirements."
AP4 currently manages around SEK 214bn (€22.6bn) of pension assets in its role as a buffer fund and financing sources for the national public pension system, and as a result aims to invest capital to provide the best long-term return for the state scheme as a whole.
Johan Lundman, managing director of VPD Financial Software Consulting, said as BarraOne is a widely accepted system by pension funds it believes the new software will help to increase productivity and reduce operational risk.
"It is essentially a tool for straight through processing of portfolio and risk data," he added.
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