LCIV undertook a robust and formal selection process to identify the appropriate solution and partner organisation. Rapid implementation, cost and time reduction in the process of producing reports and superior control and accuracy of content were key drivers for the decision. Contracts were signed with Opus Nebula in February 2018 and LCIV were able to deliver the initial reports from the new system for the first quarter of 2018. Speed and ease of on-boarding are proven characteristics of Opus Nebula’s service model which leverages industry leading software to deliver its ground breaking Reporting as a Service offering. This in turn enables significantly faster and a cost-effective deployment than is possible with traditional client reporting system implementations.
Brian Lee, COO at LCIV, commented: “We have very demanding reporting requirements and implementation timeframes. Our selection process was rigorous and included discussions and meetings with Opus Nebula’s existing clients as well as traditional selection measures and analysis. Opus Nebula has enabled LCIV to automate its client reporting, reduce reporting times and mitigate process risk. This is an important first step in the build out of our operating model. The first quarter’s reports were delivered on time and to budget.”
Andrew Sherlock, Chief Operating Officer of Opus Nebula, said: “We are delighted to welcome London CIV to our fast-growing community of clients. We pride ourselves on the timeliness and cost-effectiveness of our Reporting as a Service solution. Our rapid on-boarding and implementation model allows us to be producing reports for London CIV significantly sooner than more traditional models, thereby facilitating huge time to market advantages.”
Enquiries regarding this announcement should be addressed to:
About Opus Nebula (www.opus-nebula.com)
Founded in 2014, Opus Nebula provides the Reporting as a Service® solution to investment firms. The solution is a fully configured, complete end-to-end client reporting service, delivered out of the box. The solution is powered by the SimCorp Coric reporting engine, wrapped with a bespoke and highly user-friendly interface to control and manage the reporting process, and is hosted within the Microsoft Azure cloud for capacity, security and resilience. The Opus Nebula solution provides business users with direct control over the entire end-to-end reporting process. The Opus Nebula model allows for fixed on-boarding costs, a pay-per-use operating model, and significantly reduced elapsed time to go-live. Data feeds and final reports are precisely and simply configured to clients’ exact content, layout and branding requirements. SimCorp is a key strategic partner and minority shareholder of Opus Nebula.
About London CIV
A Collective Investment Vehicle for London Local Authorities (LLA) Pension Funds which delivers broader investment opportunities and enhanced cost efficiencies than LLAs can achieve individually and overall better risk adjusted performance.
Launched in December 2015, London CIV are unique in being the first fully authorised and regulated investment management company set up by local government, for local government in the UK. Our founding members are London boroughs and the City of London Corporation and we have been established as a collective investment vehicle for their Local Government Pension Scheme funds.
The current regulatory permissions allow London CIV to operate an Authorised Contractual Scheme Fund (the UK’s version of a Tax Transparent Fund). London CIV will be building out the fund over the next few years, aiming to grow the current £5 billion of assets under management to £25 billion by 2020.
You can find out more about London CIV by visiting their website: https://londonciv.org.uk/