HOOPP implements SimCorp Dimension to reduce operational risk and support investment strategy

The Healthcare of Ontario Pension Plan (HOOPP), the pension plan of choice for Ontario’s hospital and community-based healthcare sector, announced today that it has deployed SimCorp Dimension to act as the single, integrated system of choice to support the firm’s investment strategy. With AUM of $31 billion, HOOPP selected SimCorp Dimension because of the platform’s ability to provide a completely integrated, front-to-back office system with robust capabilities including derivatives management and accounting.

For the past few years, HOOPP has been engaged in implementing a liability driven investment approach involving non-traditional portfolio structures and alternative investment strategies. It became apparent that HOOPP’s existing portfolio management and accounting system would not support the types of activities that the organization wished to undertake. HOOPP needed a portfolio management and accounting system which could handle all of the various investment products and strategies that they needed to employ. In addition, they needed a system that was flexible enough to add new products and strategies in the future and would provide timely and adequate reporting and accounting to support investment decision making. Following a rigorous selection process, HOOPP chose SimCorp Dimension which achieved all of the required functionality in a single system.

“We run a very sophisticated portfolio and it was a high priority for us to find and deploy a single solution that could support our operation,” comments John Crocker, President & Chief Executive Officer of HOOPP. “Choosing SimCorp was a strategic decision to support our team which manages all our assets in-house. Work-arounds were no longer acceptable because in our business, errors can translate into hundreds of millions of dollars. SimCorp is able to support our complex derivatives book, all our existing instruments as well as the ones we intend to bring on in the future.”

SimCorp Dimension acts as HOOPP’s primary means of processing every transaction on the books and is the system of record. HOOPP processes all instruments through the system, including bonds, equities and derivatives.

David Kubersky, Managing Director of SimCorp North America, says, “HOOPP‘s vision serves as an inspiration to all of us. During a time when staff reduction and the outsourcing of money management activities are popular solutions for cost-containment, HOOPP made a clear stand that great people who understand the business of managing assets are pivotal to the company’s future growth. We are proud to back the good people of HOOPP with a platform that they can count on.”

                                                       - - -

Enquiries regarding this announcement should be addressed to: 
Susan Peter, SimCorp North America (+1 917 546 4654)

                                                       - - -

About SimCorp
SimCorp is a leading provider of highly specialized software and expertise for the investment industry. Established in 1971, with more than 1,100 employees, SimCorp is listed on the NASDAQ OMX Copenhagen A/S. SimCorp enables global investment management organizations to mitigate risk, reduce cost and enable growth through development and implementation of its integrated and market-leading financial software solution SimCorp Dimension. SimCorp is headquartered in Copenhagen with subsidiaries and branches in Amsterdam, Brussels, Frankfurt, Helsinki, Hong Kong, Kiev, London, Los Angeles, Luxembourg Munich, New York, Oslo, Paris, Singapore, Stockholm, Sydney, Toronto, Vienna and Zurich. For more information, visit www.simcorp.com.

About HOOPP
Created in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is the pension plan of choice for Ontario’s hospital and community-based healthcare sector with over 340 participating employers and more than 250,000 plan members and retirees. HOOPP invests the assets of its $31 billion Fund, administers the Plan and pays more than $1 billion per year in pension benefits. The HOOPP defined benefit plan provides a formula based benefit that provides security and peace of mind to Ontario’s healthcare workforce. HOOPP is governed by a Board of Trustees with representation from the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses’ Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees’ Union (OPSEU), and the Service Employees International Union (SEIU). The unique governance model provides representation from both employers and unions in support of the long-term interests of the Plan. For more information, visit hoopp.com.