With the founding of its subsidiary navaxx S.A., Axxion S.A. has insourced its complete fund administration.

Founded in Luxembourg in 2001, the privately owned investment company Axxion currently manages over 100 investment funds totaling more than €300 billion in assets.  The newly founded subsidiary navaxx will take over the fund accounting and reporting tasks of Axxion’s proprietary and third party funds.

The provider of private label funds finds it essential to have direct access to production and data management in order to be able to provide the quality, flexibility and individuality required for its customers within the asset management and family office segment. Axxion required a solutions partner capable of supporting them in realizing their insourcing strategy, which focuses on sustainable innovativeness and efficiency.

In May 2011, the decision was made in favor of Diamos, as the current sole provider of a fund administration system with complementary professional Software-as-a-Service (SaaS) solution. Since January 2nd 2012, navaxx has been using Diamos-F to manage proprietary and third party funds for fund accounting as well as i.e. for investment compliance and reconciliation tasks.

During the 9 month implementation project, Diamos provided full coverage of Luxembourg-specific audit requirements, in collaboration with a leading audit firm.

In the midst of the project, Axxion decided to install the respective Diamos solution for navaxx´s transfer agency business as well. Thanks to the single system platform architecture, the core of each Diamos product, the experienced integration and migration team implemented the transfer agency software Diamos-D within 4 months.

Thomas Amend, Managing Partner at Axxion happily concludes: “We are proud that our team – together with Diamos – was capable of successfully completing the ambitious insourcing project within such a short timeframe. This is proof that we are equipped with the right team and the right software solution to face future challenges and to realize innovative investment concepts and service strategies.”

Diamos is a provider of software and services for the investment management industry since 1984; Ronald Kusch, Diamos is its Country Representative in Luxembourg (picture). The portfolio of solutions includes products for fund accounting, investment compliance, order management, fee and commission management, reconciliation and transfer agency. Diamos also provides expert technical and functional consulting and support services to ensure clients receive maximum operational benefit from Diamos solutions. Operations can also be streamlined through the use of professional SaaS/ASP services which are available in combination with the Diamos ISAE 3402 certified data processing center.