Australian Ethical installs Bravura software

Australian Ethical Investments (ASX:AEF) has adopted an investment management software platform from Bravura Solutions (ASX:BVA)

Financial software and services company Bravura Solutions (ASX:BVA) has completed an implementation of its Garradin investment management software for Australian Ethical Investment (ASX:AEF).

Funds manager Australian Ethical Investment adopted the investment management system in a staged implementation assisted by consultancy firm First Treasury.

CFO Gary Leckie said the company chose the software - which includes asset management, registry and tax management functions – to simpliy its existing operations.

“Consolidating our asset management, unit pricing and general ledger functions into Bravura’s Garradin system has eliminated the administrative burden of reconciling numerous systems,” he said.

Terms of the contract were not disclosed.

Last week, Bravura revealed it was expecting a 90% increase in FY11 ebitda, attributing the result to its June 2010 acquisition of the UK's Mutual Fund Technologies.

BVA shares stayed flat on Wednesday at $0.140. AEF shares also closed unchanged at $20.000.

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