Varma wanted to improve their existing performance measurement capabilities to cover all the decision-making levels and decisions made within the investment organisation and to distribute the performance data within the organisation in a flexible and efficient way. 

Ortec Finance’s PEARL solution was the answer to Varma’s needs. By choosing PEARL, Varma gained the ability to: 

• Deal with the complexities when assessing the effectiveness of currency overlay management.
• Maintain a portfolio reporting structure that dynamically adapts to Varma’s reporting hierarchy.
• Drill down into constituent-level benchmarks, composites, and attributes.
• Extract performance data through APIs to enhance reporting processes and capabilities. 

Ortec Finance proposed a Software as a Service (SaaS) setup of its PEARL performance measurement solution, implemented in phases over a 12-month period. The implementation process began with a Definition Study that outlined all key components of the new setup and defined milestones, including benchmark and decision analysis, currency overlay attribution analysis, equity attributions, and duration reporting. These milestones formed the core PEARL foundation that Varma built on throughout the rest of the implementation. 

In the final phase of the implementation, Ortec Finance provided Varma with user training for PEARL. Armed with this knowledge, Varma conducted acceptance testing, enabling an evaluation of the key milestones outlined in the Definition Study.  

Antti Ihalainen, Head of Middle Office at Varma: “Ortec Finance’s PEARL solution has truly enhanced our performance measurement and attribution capabilities. Varma’s investment organization benefits from an increased understanding of the sources of value-added and from a detailed assessment of our investment decisions. With PEARL, we’ve gained invaluable insights into our investments, streamlined our investment portfolio reporting, and become more adaptable to any possible future changes in our investment processes. The implementation went smoothly with the expert guidance and training provided by Ortec Finance, and it was completed on time and within budget.” 

Oliver Henriquez, Director of Investment Performance – EMEA at Ortec Finance, added, "At Ortec Finance, we believe in empowering our clients with innovative solutions that drive transformation and success. Varma's journey with our PEARL solution exemplifies our commitment to addressing complex challenges in the investment management landscape. We are proud to have played a pivotal role in enhancing Varma's performance measurement and attribution capabilities, and we remain dedicated to delivering excellence and driving impactful change for our clients." 

Ortec Finance is a leading provider of investment decision technology and solutions, with decades of experience in delivering innovative solutions to financial institutions globally and is recognised as one of the world’s most innovative FinTech companies in 2023. 

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