Thrivent Asset Management, a subsidiary of Thrivent Financial for Lutherans, with $30 billion under management, has selected SunGard's Asset Arena Investment Accounting as its mutual fund accounting platform.
Asset Arena provides investment operations processing and comprehensive support for a wide range of assets, countries and investment activities.
By employing rules-based exception management processing using Asset Arena, Thrivent will be able to bring a higher level of automation to its accounting functions and help reduce the number of peripheral applications. It will also enhance Thrivent’s internal reporting by providing enriched data to the operations staff and fund managers.
Thrivent will use Asset Arena on an application service provider (ASP) basis to manage the firm's operations and reporting at both its Appleton, Wis., and Minneapolis, Minn. locations.
Gerry Vaillancourt, vice president, mutual fund accounting at Thrivent Financial, says the firm selected SunGard's Asset Arena because it is a functionally rich and scalable solution that can help them maintain their business growth and contain costs.
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