by Brianna Crandall — April 4, 2012—Manhattan Software, a leading developer of global real estate management software solutions, recently announced that Legal & General Property (LGP), one of the largest institutional property fund managers in the United Kingdom, is adopting its Strategic Performance Management (Manhattan SPM) software tool to achieve greater data visibility for a competitive advantage. Manhattan SPM provides an integrated data analysis, modeling and forecasting solution for property fund management. Manhattan SPM creates controlled and auditable access for multiple contributors, enabling them to review and modify real estate data in a centralized, unified environment.
Legal & General Property is a wholly owned subsidiary of Legal & General Investment Management (LGIM), reportedly one of Europe’s largest institutional asset managers and a major global investor. LGIM manages approximately £362 billion of assets on behalf of more than 3,300 clients (as of June 30, 2011) and provides products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the U.K., managing or co-managing 17 separate funds or vehicles and two segregated mandates with an aggregate asset value of over £10.4 billion as of September 30, 2011.
“Manhattan SPM allows us to store all our fund information in one place, delivering a greater degree of accuracy and reliability when compared to spreadsheets and traditional valuation systems,” explains Paul Edwards, Director of Asset Management at LGP. Additionally, it enables us to accurately assess and validate our IPD fund returns, so that we are able to constantly evaluate each fund’s performance against the benchmarks. By combining the advanced tool set of Manhattan’s sophisticated fund management technology with our investment management processes, we believe Manhattan provides us with the edge and competitive advantage we need in today’s marketplace. Furthermore, we found Manhattan to be a very professional organization who delivered a complex product that was able to satisfy our demanding requirements.”
Steve Vatidis, Group Managing Director at Manhattan Software, added, “We are very pleased to have LGP as one of our clients. In the current economic climate, real estate organizations increasingly need to demonstrate organization-wide transparency and correspondingly, require fast, accurate access to information and enhanced decision-making capabilities. Manhattan SPM represents a step-change in capabilities for investment managers. Our sophisticated analysis, modeling and forecasting technology promotes an unrivalled level of accuracy and reliability of data and version control, whilst providing complete transparency of all formulae, computations, underlying detail and assumptions. The effective partnership between LGP and Manhattan has led to a very successful outcome and we look forward to working with them to ensure their continued success.”
Dedicated to the development, implementation and support of fully integrated and fully Web-based global property, asset and facilities management systems, London-based Manhattan Software is focused on improving the performance of its clients’ real estate portfolios and facilities around the world. The company’s products, comprised of over 30 modules designed to manage the complete property life cycle, can be installed at clients’ sites as part of their information technology (IT) infrastructure, or through the Manhattan Software-as-a-Service (SaaS) offering.
