Legal & General Implements Revolutionary Fund Management Software

LONDON, March 1, 2012 /PRNewswire/ --

Centralised data analysis, modelling and forecasting provides competitive advantage for leading property fund manager

Manhattan Software, a leading developer of global real estate management software solutions, today announced that Legal & General Property (LGP), one of the largest institutional property fund managers in the UK, is adopting its Strategic Performance Management (Manhattan SPM) software tool to achieve greater data visibility.

Manhattan SPM provides an integrated analysis, modelling and forecasting solution for property fund management.  Manhattan SPM creates controlled and auditable access for multiple contributors, enabling them to review and modify real estate data in a single, unified environment.

Legal & General Property is a wholly-owned subsidiary of Legal & General Investment Management (LGIM), one of Europe's largest institutional asset managers and a major global investor. LGIM manages approximately £362bn of assets on behalf of more than 3,300 clients (30 June 2011) and provides products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the UK, managing or co-managing 17 separate funds or vehicles and two segregated mandates with an aggregate asset value of over £10.4bn as at 30 September 2011.

"Manhattan SPM allows us to store all our fund information in one place, delivering a greater degree of accuracy and reliability when compared to spreadsheets and traditional valuation systems.  Additionally, it enables us to accurately assess and validate our IPD fund returns, so that we are able to constantly evaluate each fund's performance against the benchmarks," explains Paul Edwards, Director of Asset Management at LGP. "By combining the advanced tool set of Manhattan's sophisticated fund management technology with our investment management processes, we believe Manhattan provides us with the edge and competitive advantage we need in today's marketplace. Furthermore, we found Manhattan to be a very professional organisation who delivered an advanced product that was able to satisfy our demanding requirements."

Steve Vatidis, Group Managing Director at Manhattan Software, added: "We are very pleased to have LGP as one of our clients. In the current economic climate, real estate organisations increasingly need to demonstrate organisation-wide transparency and correspondingly, require fast, accurate access to information and enhanced decision-making capabilities. Manhattan SPM represents a step-change in capabilities for investment managers. Our sophisticated analysis, modelling and forecasting technology promotes an unrivalled level of accuracy and reliability of data and version control, whilst providing complete transparency of all formulae, computations, underlying detail and assumptions. The effective partnership between LGP and Manhattan has led to a very successful outcome and we look forward to working with them to ensure their continued success."

Manhattan Software will be attending MIPIM, the world's premier real estate event - running from 6-9 March in Cannes, France. Visit Manhattan on stand 18.05 to learn more about the most advanced fund management software on the market.

About LGP

Legal & General Property (LGP) is a wholly-owned subsidiary of Legal & General Investment Management (LGIM), one of Europe's largest institutional asset managers and a major global investor. LGIM manages approximately £362bn of assets on behalf of more than 3,300 clients (30 June 2011) and provides products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the UK, managing or co-managing 17 separate funds or vehicles and two segregated mandates with an aggregate asset value of over £10.4bn as at 30 September 2011.

About Manhattan Software Group

With headquarters located in the heart of London, the Manhattan Software Group is the global leader in enterprise real estate software. Dedicated to the development, implementation and support of fully-integrated and fully web-based global property, asset and facilities management systems, Manhattan Software is focused on improving the performance of our clients' real estate portfolios and facilities around the world.

Recognised as a leader by Gartner, Inc., the Manhattan suite comprises of over 30 modules designed to manage the complete property life-cycle and meet the requirements of real estate investors, fund managers, occupiers, asset managers and property managers. Learn more at http://www.manhattansoftware.co.uk

For further information:
Ben Gardner
Manhattan Software Group
+44(0)20-7269-8500
bgardner@raindrop.co.uk