Mirae Asset Investment Managers adopts Bloomberg Solutions for the Buy Side

By Leandra Monteiro

Bloomberg announced that Mirae Asset Investment Managers (India) Private Limited (Mirae Asset) has adopted Bloomberg’s Buy-Side solutions to help support enterprise-wide digital transformation. Mirae Asset will use Bloomberg’s Asset and Investment Manager (AIM) and Bloomberg Vault across its investment workflows including fund management, trading, operations, investment risk and compliance; enabling the firm to effectively build scale and navigate a constantly evolving market landscape.

Bloomberg AIM is a leading order management system and part of Bloomberg’s comprehensive Buy-Side solutions that offer multi-asset capabilities to support every stage of the investment lifecycle.

Bloomberg Vault is a hosted service that helps firms meet regulatory record keeping and other compliance obligations. Vault enables firms to capture and archive their e-communications and trade data and perform proactive searches, monitoring and surveillance to analyze such data.

The adoption of Bloomberg’s Buy-Side solutions will help increase the asset manager’s efficiency and agility. Bloomberg AIM helps to maintain and support investment in a diverse set of asset classes regardless of the complexities, while managing costs by optimizing operations and providing tools for investment and regulatory compliance workflows. It will also improve the asset manager’s ability to support electronic execution for their passive funds and securities traded across different regions and geographies.

Mirae Asset has also expanded the firm’s subscriptions to the Bloomberg Terminal, which is used by the world’s leading business and financial professionals for real-time data, news and information.

Manish Jha, Head – Risk Management, Mirae Asset Investment Managers (India) Pvt. Ltd. said, “With ever-increasing complexities in the order management framework and evolving investment compliance risk, it’s vital to use technology to optimize various workflows. Working with Bloomberg’s Buy-side solutions has been an important step in ensuring efficient workflows with respect to Portfolio management, Trading, Investment Compliance and Operations.”

“Investment risk management is a crucial and non-negotiable part of the fund management business,” said Swarup Mohanty, CEO – Mirae Asset Investment Managers (India) Pvt. Ltd. “This partnership will surely help bring cutting edge technology across the investment lifecycle, including important investment and trade compliance.”

Bloomberg’s Buy-Side solutions deliver front-to-back technology for the investment lifecycle, from decision support and order management to portfolio management and post-trade services, for some of the largest asset managers, asset owners, and hedge funds. Bloomberg AIM, a leading order management system (OMS), is used by nearly 15,000 professionals at over 900 client firms globally to manage more than $17 trillion in assets. PORT is a multi-asset portfolio and risk analytics solution that delivers advanced risk and return attribution models. PORT has 47,000 active users across 15,000 client firms globally. Bloomberg’s post-trade offering streamlines post-trade workflows and reduce investment operation risk through reconciliation, straight-through processing (STP), settlement exceptions and collateral management solutions.

“We are pleased to partner with Mirae Asset and bring on board Bloomberg’s comprehensive suite of Buy-Side offerings,” said Rajiv Mirwani, Head of Enterprise Sales – South Asia, Bloomberg. “This will help increase the asset manager’s efficiency and agility, and thereby optimize operations and provide tools for investment and regulatory compliance workflows. As global markets become even more complex and regulatory requirements evolve, at Bloomberg, we are constantly striving to innovate our offerings to support our clients on this journey.”