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Matrix, the award-winning solution provider to asset owners and managers has been selected to provide the Vermont Pension Investment Committee (VPIC) with a full, end to end cloud-based data management managed service. The firm underwent a thorough due diligence process and were selected due to their proven reputation with asset owners. This in time will create increased efficiencies and value for the investment team.
The Vermont Pension Investment Committee (VPIC) acts as the trustee for the defined benefit plan investments. It includes development of investment policies and objectives; risk management assessment; asset allocation; investment manager searches; performance measurement; and ongoing due diligence.
Rob Weber, Head of North America, Matrix commented. “We are delighted to be working with the VPIC. Their focus on asset allocation and investment data is completely aligned with the capabilities our technology delivers. The working relationship is off to a great start and we look forward to supporting the VPIC team in the coming months.”
VPIC Chairman Tom Golonka said: “Our mission is to manage our investments with integrity, prudence, and skill to meet or exceed the financial objectives of the beneficiaries of the funds. That also covers the technology providers we chose to partner with. We need solutions which enhance our investment strategies but also are cost effective for us as a business. We have selected Matrix IDM as they were one of the only solution providers who include a wide range of functions to support our data warehouse and recordkeeping needs. They will run and manage the application via Azure which enables our team to focus on what we do best – making smart decisions based on accurate data.”
Vermont State Treasurer Beth Pearce added: “Matrix is a value added, cost-effective approach to our data needs. It will assist both our investment and accounting staff to streamline processes and integrate best practices. The product is very clearly leading edge technology. As a member of VPIC and a fiduciary, I believe this technology will bring value to our retirement beneficiaries and taxpayers”
