The National Council for Social Security Fund of China Signs Strategic Partnership with eFront
BEIJING, - SSF selects eFront to help develop best practices in Chinese PE market
eFront, a leading software provider of financial solutions for alternative assets, officially announces that it has signed a partnership contract with the National Council for Security Fund (SSF) of China.
The Central Committee of CPC and the State Council established the National Social Security Fund (NSSF) in August 2000 and created the National Council for Social Security Fund (SSF) to manage the NSSF's assets. NSSF aims to be a solution to the challenges of an aging population and serves as a strategic reserve fund accumulated by the Central Government to support future social security expenditures and other social security needs.
In an expanding Chinese private equity market, SSF is one of the largest asset management institutions. With alternative investments growing significantly, the demand for automating business workflows in SSF's alternative investments is increasing. In order to manage alternative investments with more sophistication, improve work efficiency and prevent risks, SSF ultimately selected eFront FrontInvest to provide automated support for its alternative investments. eFront will work with SSF to leverage global industry best practices to provide leading information technology services, satisfy the business demands of SSF's alternative investments and optimize the management of alternative investments through technological approaches.
About the National Council for Social Security Fund (SSF)
The National Council for Social Security Fund (SSF) is a government agency on the ministerial level directly under the State Council of the People's Republic of China and aims to be a solution to the problem of aging based on the following fund resources:
fiscal allocation of the central government, capital derived from reduction or transfer of state-owned shares, equity assets and capital raised in other manners.
With a total asset under management around RMB 850 billion, SSF are permitted to invest in both domestic and overseas products, including bank deposits, stocks, bonds, funds, trust investments, derivative instruments such as swaps and futures, and such other investment products or instruments jointly approved by the Ministry of Treasury and the Ministry of Labor and Social Security.
http://www.ssf.gov.cn
About eFront
eFront is a leading software provider of end-to-end solutions dedicated to the financial industry with a recognized expertise in alternative investments and enterprise risk management. eFront's solutions serve more than 300 customers in 38 countries, including companies in the private equity, real estate investment, banking and insurance sectors. eFront's primary product suites, FrontInvest(TM), FrontAnalytics(TM), Pevara, FrontCRM(TM) and FrontERM(TM), offer tightly integrated solutions for streamlining the management of alternative investments and corporate risk. Founded in 1999, eFront services clients worldwide from offices in Asia, Europe, the Middle East and North America. For more information visit www.efront.com and follow us on LinkedIn at http://www.linkedin.com/company/efront.
Source: eFront
Clementine DENIEL, +33(0)1-49-96-40-60, cdeniel@efront.com
