Main news of the Sofia S72 release

COMPLIANCE

IFRS 17 – “Asset Return for Insurance”

The development of the module "Asset Return for Insurance", Sofia's solution for the valuation of assets for IFRS 17 purposes, continues.
In addition to supporting the management of Class C portfolios and Class D funds for which the NAV is calculated in Sofia, the Asset Return for Insurance module is enriched with functionalities to produce IFRS 17 results also for external Class D funds, for which the NAVs are calculated externally to Sofia.

For further information and to organize a demo: sofia.arfi@simcorp.com

 

ESG

The "ESG" module, Sofia's solution to support the management of ESG (Environmental, Social, Governance) sustainability ratings, has been further enhanced with the introduction of the possibility to manage customizable exclusion criteria for the identification of critical and non-socially responsible issuers and the possibility of marking Green Bonds and distinguishing products that promote environmental and / or social criteria (Article 8) and those pursuing sustainability objectives (Article 9), on the basis of the SFDR Regulation.

For further information: sofia.info@simcorp.com

RISKALM

Strategic planning

The development of the tools of Sofia supporting the strategic planning of investments continues, aimed at a complete representation of the evolution of IFRS 9 financial statements and with particular attention to the increasingly close correlation required between assets and liabilities introduced by the IFRS 17 principles.

The module is enriched with the possibility to represent reinvestments and strategic purchases at future dates, allowing to give also to the "fictitious" securities of the ALM module a complete characterization in terms of IFRS accounting destination and prospective ECL attribution. These new functionalities are in addition to those already present, which make it possible to project portfolios according to the specificities introduced by the IFRS standard, to perform multi-scenario and multi-GAAP analyses and to prepare the database necessary to produce dashboards and reports.

For further information: sofia.risk-alm@simcorp.com

 

FINANCIAL INSTRUMENTS

Tax Credits (Ecobonus)

The development of the "Tax Credits" module of Sofia continues. The module allows the complete management of tax credits, such as Ecobonus, in compliance with IVASS and Bank of Italy instructions and in line with ANIA interpretations, through:

• a specific asset type, dedicated data reference and portfolio parameters independent of other financial instruments;

• a dedicated archive fed by a standard import that allows diagnostic checks on the import file, detailed analysis of imported records and management of any changes or corrections and the automatic creation of transactions and positions relating to imported credits.

For further information: sofia.info@simcorp.com

 

Fair Price Inflation Linked

The new module "Fair Price Inflation Linked" is now available in Sofia to support the growing need for companies to price and manage Inflation Linked securities in a prospective way.
Through the standard functionalities of the new module, it is possible to calculate the Fair Price of Inflation Linked instruments, by associating to these securities the appropriate inflation index and matching the index with the relevant inflation curve.
The Fair Price of Inflation Linked Securities has also been integrated into the Risk area modules, such as:

• calculation of Duration and Effective Duration values;

• calculation of the Stress Test with assumptions on inflation curves as well as on interest rates;

• calculation of the relative Value at Risk;

• prospective simulations of Asset and Liability Management.

For more information, please contact your reference account manager.

For further information: sofia.risk-alm@simcorp.com