BRUSSELS, December 1, 2014 /PRNewswire/ --
Acquisition increases breadth of Confluence offering with new capability in performance risk analytics and attribution
Confluence, the global leader in investment data management automation, today announces that it has acquired Belgium-based data solutions provider Orfival.
The acquisition will allow Confluence to leverage Orfival's product expertise and networks to provide an even more comprehensive Fund Analytics offering to the global asset management industry. Orfival was founded in 1999 and has built up its network amongst European asset managers, insurance companies and pension schemes by offering solutions for portfolio management and analytics, performance measurement and attribution, risk and investment compliance reporting services.
In the U.S., where Confluence is the market leader in mutual fund performance calculation, Confluence clients will now have access to Orfival's performance risk analytics and attribution functionality which will sit hand-in-hand with Confluence's existing capabilities to provide risk metrics and comparative analysis against benchmarks. Confluence will also augment its global data-driven performance and regulatory reporting solutions with added risk metrics, composites and analytics capabilities.
Commenting on the acquisition Mark Evans, CEO, Confluence, said, "When looking to grow Confluence we aimed to find businesses which have products or services that complement our existing offerings to add greater value to the global asset management industry. Orfival is just that, as it brings extraordinary subject matter expertise and research capabilities as well as a deep understanding of the European market. The region is one which we have strategically targeted for business growth and this acquisition makes our European networks stronger while allowing us to market Orfival products to our existing North American network."
Philippe Grégoire, Managing Director, Orfival, said: "We are delighted to now be an integral part of the Confluence business success story. As a global and recognised name in our area of expertise, the Confluence brand is the ideal channel for Orfival to make the quality and efficiency of its products known internationally. We are looking forward to working closely with the Confluence team to provide the best possible data solutions to new and existing clients in our target markets."
Orfival will operate under the Confluence brand and will integrate products and operations under the Confluence umbrella.
For more than 20 years the global investment management industry has come to trust Confluence to deliver innovative solutions to take the risk out of fund administration. Helping investment management companies gain unprecedented control, Confluence automates every step of the fund administration process - including the collection, creation, confirmation and delivery of investment product data. Results are lower costs, reduced risk, decreased reporting turnaround times and the scalability to automate more processes without additional resources.
Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. From the Confluence traditional install, hosted and outsourced Unity® platform solutions to our enterprise-grade SaaS enabled Unity NXT platform, Confluence automates critical fund administration and reporting processes - such as regulatory reporting, financial statement preparation and performance reporting. Confluence solutions support a wide array of collective fund investment types - including European domiciled UCITS, alternative investments, traditional U.S. based '40 ACT mutual funds, and contemporary fund structures such as ETFs.
Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with key locations in San Francisco, CA, London, Luxembourg and Dublin. For more information, visit http://www.confluence.com
Founded in 1999 Orfival provides dedicated data solutions to the insurance and asset management industries with a range of institutional and corporate clients. Orfival's services cover portfolio management and analytics, performance measurement and attribution, risk and investment compliance and reporting services. Since inception Orfival has built a dedicated network of clients across Europe. For more information visit http://www.orfival.com