Tri-Linear first empowerment firm to take asset management in-house with DST

Cape-headquartered Tri-Linear Holdings has set the standard for empowerment financial services companies with the acquisition of the HiPortfolio asset management system from DST International.

The installation of HiPortfolio makes Tri-Linear the first and only empowerment financial services company in the country to manage its client business using in-house technology solutions. The scope of the solution spans front-office trading and modelling through to settlements, accounting and administration.

Tri-Linear Holdings comprises two companies: Tri-Linear Asset Management and Tri-Linear Specialised Finance. The group was formed six years ago and provides creative, value-added asset management, structured financing solutions, quantitative financial modelling and derivative strategies. Recent successes include co-managing a R3 billion bond for Transnet and being named sole adviser and arranger for a R1 billion cross-border telecommunications project.

The decision for Tri-Linear to invest in technology solutions was based on sound strategic planning and priorities, says Shahied Allie, group finance manager: "We decided to implement HiPortfolio so we could be independent of all other companies for our portfolio management, structured finance and administrative requirements. HiPortfolio gives us the potential to grow our businesses and compete with world-class financial services organisations. The system also satisfies South African government regulatory requirements, specifically those of the Financial Services Board, ensuring that we have firm control and accountability over our own systems and data."

Russell du Bois of DSTi South Africa elaborates on the benefits Tri-Linear will enjoy: "HiPortfolio provides the full spectrum of front- to back-office functionality to enable financial concerns to manage their asset management activities effectively and efficiently. By combining complete South African market functionality with international markets and process best practices, Tri-Linear can take on the largest in the business."

The empowerment group tendered for a suitable application and eventually chose HiPortfolio as it provided the requisite functionality and technology, coupled with a product growth trajectory that will see it through for years to come. DSTi`s large South African client base and market credibility in the financial services arena were other factors in swinging the vote. Tri-Linear also chose DSTi to perform the implementation of the system and the training of its staff.

Allie adds: "The system provides us with the ability to increase our processing capability and so grow our capacity, thereby permitting us to enhance our product offerings as we expand. So far everything is going according to plan and the system has exceeded our expectations."

DSTi`s asset management products have been designed to satisfy all the functions and facilities required by fund managers, dealers, settlement staff, custodians and record-keepers operating as international asset managers.

Since going live with HiPortfolio, Tri-Linear has expanded its customer base and easily absorbed new instruments and complex financial structures in HiPortfolio. This capacity instils confidence across the board - clients, portfolio managers and regulators - and confirms the rationale of being systems- and process-independent through an in-house asset management system.