Prudential Portfolio Managers (South Africa) chooses FundReports to fulfil its client reporting needs

02 June 2008, London, UK & Cape Town, SA

FundWorks SA is pleased to announce that Prudential Portfolio Managers (South Africa) (Pty) Ltd (“Prudential”) based in Cape Town has licensed and will be implementing FundReports, FundWorks’ Enterprise Client Communications and Reporting platform.  Prudential will use FundReports in its South African operation (which was founded in 1994) for the production of Daily, Monthly, Quarterly and Ad Hoc Client Reports for its institutional and retail clients.

Prudential is currently investing significantly in technology to make operational functions more efficient and effective and has identified the need for a new client reporting solution.

Grant Speirs, Finance Director of Prudential said, “FundReports was chosen to provide automated, high quality, consistent reporting to clients both external and internal as the reporting responsibility is currently split across a number of different departments and systems. We are looking to FundWorks to help improve and streamline this process.”
Bradley Mehl, Director of FundWorks SA said, “The association with Prudential is fantastic news for the SA operation as it means that yet another well-respected South African asset management firm has chosen FundReports. FundWorks SA will continue to market FundReports to the asset management community and has localised the licensing and implementation model to aggressively capture this market.”

About Prudential Portfolio Managers

Prudential Portfolio Managers (South Africa) (Pty) Ltd is a 75% owned subsidiary of Prudential plc based in London. 10% of the remaining capital is owned by the Prudential Black Staff Trust and 15% by the Thesele Group.  Prudential Portfolio Managers South Africa provides investment expertise and management to both institutional and retail markets.  Founded in 1848, the Prudential Corporation is one of the world’s largest financial service companies. Prudential plc meets the savings and retirement needs of over ten million individuals across Europe, America, Asia and Africa. Prudential offers considerable investment expertise to its investors. Prudential benefits from the financial strength and stability provided by a strong global balance sheet which ensures both the safety and security of its clients’ money. With funds under management of over US$500 billion, Prudential is based in eight major global financial centres managing equities, bonds, property, venture capital and cash for pension funds and other institutional investors.  Prudential established an investment management office in Cape Town in 1994 to offer both domestic and global asset management to South African clients. Funds under management in the South African office include institutional and retail assets invested locally on behalf of South African clients, as well as investment into the region from global investors. Further information can be found at www.prudential.co.za.

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