Main news of the Sofia S66 release
June 11, 2019 - Sofia S66 was released to all customers of SimCorp Italiana. It contains the following new functionalities.
Financial Instruments
Alternative Investments Funds
The Alternative Investments Funds module has been enhanced with new functionalities and it is now possible to manage the variation of issued shares proportionally to the variation of the commitment.
For further information: sofia.FIA@simcorp.com
Risk Management
Risk Adjusted Performance
The Risk Adjusted Performance module has been enhanced with new risk indicators, allowing to calculated the asset’s 1-year yield, the asset’s real yield, and the net Benchmark yield net of the TER (Total Expensive Ratio).
Per info: sofia.risk-alm@simcorp.com
Compliance
IFRS 17 – Policies’ archive
The ALM module has been enriched with a new policies’ archive, allowing to store in Sofia the details of the policies of each model point.
Beforehand, the policies with homogenous characteristics were aggregated into model points within the import procedure and, then, data were only available at aggregated level.
The new archive provides a database allowing to perform validation and reconciliation of policies’ portfolio’s data for the purposes of the application of the IFRS 17 Principle and for the use of the ALM module for Local and Solvency II purposes.
Per info: sofia.IFRS17@simcorp.com
COVIP
Following the introduction of Circolare n. 6377 (19/12/2018), the Segnalazioni COVIP module has been updated in order to support the production of the Tables with the new structure as indicated by COVIP. The modifications are detailed in the dedicated newsletter available in the Customer Area of the www.simcorpsofia.com website.
Per info: sofia.covip@simcorp.com
Direct Reporting
Following the modifications introduced by Bank of Italy for the 2019-2020 edition of the Direct Reporting, the Sofia module supporting the report has been updated. The modifications are mainly related to the treatment of mutual funds and are detailed in the dedicated newsletter available in the Customer Area of the www.simcorpsofia.com website.
Per info: sofia.info@simcorp.com