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UBL Fund Managers Limited Signs Software Development Agreement with Plexus

UBL Fund Managers has entered into a software agreement with Plexus after evaluating several software options available in the industry. UBL Funds has chosen Plexus to be the solution provider to develop and implement comprehensive software for their core-business automation.

UBL Fund Managers Limited is a wholly owned subsidiary of United Bank Limited. UBL Fund Managers has been operating since the year 2002 and ranks amongst one of the leading asset management companies in Pakistan.

PlexAsset, one of Plexus� many offerings, is an integrated product specifically designed to cater to the needs of mutual funds industry. PlexAssets is a new product initiative of Plexus which has been providing software solutions to financial institutions in Pakistan and Middle-East. PlexAssets has been designed to create operational efficiency and provide the business users with a dynamic technology platform to deploy new and innovative products quickly, thereby allowing institutions to stay ahead of their competition.

To formalize the event, a signing ceremony was held at UBL Funds corporate office in Karachi. On behalf of UBL Funds, the agreement was signed by Mr. Mir Muhammad Ali, CEO, and Mr. Hasnain Raza, CIO. Mr. Abdul Rahman, CEO, and Mr. Asad ur Rehman, COO, signed the agreement on behalf of Plexus.

Speaking at the occasion, Shafiq ur Rehman, Chief Technology Officer, UBL Funds, said, �The Plexus solution covers a comprehensive Unit Holder Accounting System and a robust Investment Solution covering all areas of investments. The system is being developed with the coordination of business experts at UBL Funds offering flexibility in launching new products quickly and efficiently.�

Asad ur Rehman, Chief Operating Officer, Plexus, commented that �Successful implementation of Plexus software solution will involve strong commitment from the leadership at UBL funds and entire business users along with consistent efforts from Plexus business software application team allocated to the project. We look forward to a mutually beneficial alliance with UBL Funds and a long-term working relationship�.