MUMBAI, India and SINGAPORE, Feb. 21, 2022 — Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, today announced that Samco Mutual Fund, India’s youngest asset management service provider, has gone live with MFund Plus™, Azentio’s Asset Management Solution, for its front-office business processes.
MFund Plus™ will provide a comprehensive and proven technology solution, covering automation of both the Securities and Exchange Board of India (SEBI) mandated guidelines and internal audit policies. The solution implemented includes an extensively featured Order Management module to manage different asset classes, such as equity and debt among others, and a highly customised in-built report engine and task scheduler. It was configured to meet Samco’s requirements.
The solution will help the client meet its end-to-end processes including audit, regulatory and internal MIS requirements. All relevant SEBI directives have been configured in the system to detect regulatory breaches.
Umeshkumar Mehta, CEO of Samco Asset Management Pvt Ltd, said, “Being new in the field of asset management, we found the most suitable technology solution in MFund Plus™, which for decades, has been driving process automation and cost optimization for the industry. With technologies that include AI, RPA, advanced analytics and cloud computing, the solution has the potential to catapult us into the top league soon.”
Krish Narayanaswami, President & Global Head – Banking & Financial Services, said, “We are pleased to have been selected by Samco. I am sure MFund Plus™ implementation will support Samco with technology edge to provide superior services in the market. MFund Plus™ is a trusted solution in the Asian markets for more than two decades.”
About Azentio
Azentio Software provides mission critical, vertical-specific software products for clients in banking, financial services and insurance segments. The company has over 800 clients in more than 60 countries with a team of over 2,400 employees across offices in 9 countries globally.
About Samco Mutual Fund
Samco Mutual Fund is the youngest mutual fund in India, managed by Samco Asset Management Private Limited, focused on meeting the diverse needs of investors through a wide range of equity, and money market investment offerings. It is sponsored by Samco Securities Ltd., one of India’s most profitable discount brokers.
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