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OFI Asset Management Selects Pricing Partners for its Structured Products Revaluations - Apr 10

 

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OFI Asset Management Selects Pricing Partners for its Structured Products Revaluations 

Pricing Partners (www.pricingpartners.com), the independent valuation expert and a world leader in mathematical models for valuations of derivatives and structured products, announced today to provide independent revaluations to OFI Asset Management for its interest rates, credit and equity structured products.

OFI Asset Management develops and provides tailored investment solutions to its clients. The group operates over 21 billion Euros (at 28/02/2010) in the form of mutual funds and management mandates. OFI Asset Management required an extremely accurate solution for the independent revaluation of its entire CMS spread options, equity baskets, CDO, ABS and MBS products. After several tests with different vendors, OFI Asset Management selected Pricing Partners’ independent valuation platform, Price-it Online for its coverage, accuracy and expertise. Indeed, Pricing Partners has proven its precise valuations thanks to its internally developed financial library, especially compared to those on the market, as well as its know-how in the independent valuations for complex products.

Christoph Lepitre, vice president at OFI Asset Management commented “We were seeking an external revaluation solution for all of our structured products in the form of funds and mandates. We wanted to reduce the valuation risks on this asset class and better meet the regulators requirements in the field. We finally selected Pricing Partners’ platform, Price-it Online, for its complete coverage of products, the interactivity of its pricing tool, and the easy access to both models and market data.”

Eric Benhamou, CEO at Pricing Partners added “We are very pleased that OFI Asset Management chose Pricing Partners for the independent revaluation of its interest rates, credit and equity structured products. Our unique combination in the accurate analysis of structured products, our proprietary market data base and our intuitive language help our clients better analyze and understand their situation in the derivatives portfolio.”

 

About OFI Asset Management

Over 40 years’ existence, OFI Group offers institutional and private investors a broad spectrum of investment solutions based on strong convictions. 

With more than 21 billion Euros of assets management (February 28, 2010), a group of experts developed around 3 main fields: direct management, multi-management, specialist management.

Hold by two large institutional groups, Macif and Matmut, the group employs 250 people, 110 of whom are dedicated to business management.   

 

About Pricing Partners

Set up by former professionals of the trading industry, Pricing Partners offers accurate solutions for derivatives products valuation, pricing tools and risk analytics. Pricing Partners delivers its solutions in two different means. Through Price-it® Online, a SaaS platform, Pricing Partners provides independent valuation from the vanilla to the most exotic financial products on most assets (Interest Rates, Fixed Income, Equity, Inflation, Credit, Foreign Exchange, Commodities, Life Insurance and Hybrid products). On the other hand, Pricing Partners develops and commercializes Price-it® Excel, an analytic and independent pricing library using a generic payoff language description which allows the pricing of virtually any financial derivatives. Price-it® also supports VaR, CVaR and the most common risk management tools. Pricing Partners masters the chain of valuation and develops its own pricing library and valuation platform. Its intrinsic knowledge and understanding of the pricing methodologies/models enable its clients to achieve highly accurate and reliable valuation on their derivatives books. Pricing Partners solutions can be used by investment banks, asset management firms, hedge funds, corporations, pension funds, fund administrators and audit firms.

Pricing Partners has also signed numerous partnerships to deliver its technology through local distributor like Belatos in Hong Kong, as well as with leading institutions like Thomson Reuters (for its pricing library integrated into Kondor+ Structured Products), Misys (for its pricing library integrated into Summit), CMA, Fitch Solutions or Lexifi. It is a Microsoft IDEES partner, an IBM, Sun, Datasynapse and ActiveEon partner. Furthermore, it is a member of the grid research consortium GCPMF uniting BNP Paribas, Calyon, Ecole Centrale, EDF, ENPC, INRIA, Natixis, Misys, Paris VI University and Supelec and a global coordinator of the Credinext consortium, in collaboration with Thomson Reuters, Lunalogic, Ecole Polytechnique, ENPC, University of Marne La Vallée and INRIA.

Pricinig Partners holds offices in Paris, London, Singapore and Hong Kong.

 

Media Contact:

Anne Françoise Lacoste

Groupe OFI

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Yuxin Mao

Pricing Partners,

Direct: +33 1 70 60 72 46

Fax: +33 1 70 60 72 31

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http://www.pricingpartners.com