NEW YORK – August 9, 2011 – Vitech Systems Group, Inc., a leading provider of investment administration software, announced today that a Fortune 100 financial institution has signed a contract with Vitech for the license and implementation of Vitech's fund administration software. The license provides for 500 system users on a worldwide basis.
This premier banking organization has selected Vitech's software as a global solution for the administrative servicing of hedge and private equity funds. The new Vitech system will process contributions, subscriptions, redemptions and distributions. It will maintain account balances, track tax lots, perform allocations, generate statements, calculate fees, and handle complex multi-class, multi-currency structures.
"We are thrilled to be helping one of the world's largest fund administrators transform their operations and modernize their systems," said Hope Nawada, Vitech's Director of Investment Solutions. "This is a tremendous statement as to both the capabilities of our software and the value of our service offerings."
Vitech's software addressees the complex needs of unitized and non-unitized investment and fund administrators including hedge funds, private equity funds, insurance companies, and third party administrators. The software supports investor relations, cash flow processing, allocations, fund accounting, valuations, statements, reporting and other mission critical activities.
About Vitech Systems Group, Inc.Vitech Systems Group, Inc. is a leading provider of insurance, benefits and financial administration software to commercial, public and third party administrators. Vitech is headquartered in New York City and provides its clients with proprietary enterprise software, related implementation services, subject matter expertise and business processing support. For more information, please visit www.vitechinc.com.
Media Inquiries:
London Matusiak
Marketing Manager
+1 646.344.5332
lmatusiak@vitechinc.com