Luxembourg Asset Manager BMI Taps Linedata's Front Office Platform

The solution will help BMI to comply with AIFMD and UCITS rules.

BIL is the oldest private bank in the Grand Duchy.

BIL Manage Invest (BMI), the management company of Banque Internationale à Luxembourg (BIL), will implement Linedata's front office platform to manage its front-to-back asset management workflow, across the entirety of its suite of investment fund.

BMI's CEO, Alexandre Dumont, says that as the firm's assets under management have grown in recent years, and as a result BMI decided to ditch it's legacy system, which was built in-house, and go with a third-party solution as rules stemming from AIFMD and UCITS have strained operational efficiencies.

BMI hopes to employ Linedata's front office solution to help it with compliance, reconciliation, liquidity monitoring, risk management and valuation controls in an effort to streamline operations from the front through to the back office.

"We manage a large variety of in-house funds and third-party funds, both under UCITS and AIFM Directive, and investments ranging from purely financial vehicles to real-estate investments, and deposited with various custodian banks," said Alain Bastin, BMI's conducting officer and chief risk officer, in a statement. "This requires a strong portfolio management system that can manage multiple investment strategies and ensure in real time that our investments are in line with investment policy and restrictions. With the need to implement a robust and integrated solution, it was key to choose a provider that offers a true partnership and offers value-added services. Linedata delivers the solutions and services to support our growth for the long term."

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