The London-based Kuwait Investment Office, KIO, has chosen SimCorp's investment management system TMS2000 for its asset management operations. The Danish financial software maker will install the system, a fully integrated solution encompassing both portfolio and treasury management, during 2002.
The license contract does not change SimCorp's 2001 full-year financial forecast, the company announced. The Danish company considers the contract as an important factor, which will help its efforts to position TMS2000 in the UK market.
The state-run capital management firm KIO was established in 1958 with a mandate to manage the State of Kuwait’s portfolio of foreign investments. The responsibilities of this office are to follow-up, supervise and direct various investment activities in the UK and European markets on behalf of the Kuwait Investment Authority (KIA), which replaced the Ministry of Finance in managing and developing the financial reserves of the state. — (menreport.com)
© 2001 Mena Report (www.menareport.com)
