GENERAL MOTORS INVESTMENT MANAGEMENT CHOOSES SS&C FOR MIDDLE- AND BACK-OFFICE FUNCTIONS

Posted June 24, 2008

WINDSOR, Conn. – Financial services software and outsourcing solutions provider SS&C Technologies Inc. has begun administering middle and back office functions for General Motors Investment Management Corporation (GMIMCo) through its SS&C Direct product, under a new multi-year agreement with the fund management firm.

SS&C Direct is providing full end-to-end investment management process outsourcing of about $20 billion of GMIMCo investment portfolios, performing functions including portfolio accounting, trade processing, custodian reconciliation and reporting services. GMIMCo manages more than $160 billion in assets, and is a subsidiary of General Motors Asset Management Corporation (GMAM).

“We believe the middle- and back-office outsource services market was mature enough for us to take the step to streamline our operational paradigm,” says Michael Cloherty, Deputy Chief Operating Officer for GMIMCo. “What impressed us most with SS&C was its long-term industry commitment as an outsourcing provider, its strategic commitment to technology solutions and the experience of its industry-focused service team. We needed a partner that brings the same level of quality and expertise to the back office as we deliver to our clients.”

GMIMCo’s outsourcing to SS&C fits its plans to focus on core activities such as pension asset investment, alternative investments, liability duration management and related client servicing.

“More and more we are seeing the trend toward asset management firms wanting to focus on what they do best for clients while needing a sustainable solution that allows them to grow and launch new funds quickly into the market,” says Bill Stone, Chairman and Chief Executive Officer, SS&C. “Outsourcing back office functions removes distractions and enables money managers to focus on making investment decisions. We look forward to enhancing the strong relationship SS&C enjoys with GMAM and furthering their efforts to better serve their clients.”