Jamaica. Rebranded VM Pensions Management Plans Operations Overhaul
Prime Asset Management has changed its name to Victoria Mutual Pensions Management Limited to identify more closely with its parent company.
The third-largest pension fund manager by assets under management is using the opportunity to refresh its operations and improve performance levels, according to CEO Rezworth Burchenson.
“We have a robust pipeline of new investments,” said Burchenson ahead of Tuesday’s rebranding ceremony. They include upgrading VM Pension’s investment management platform with a spend of over $100 million; upgrading the administration system; and an enterprise risk management system across the VM Group,” Burchenson told Gleaner Business on Monday.
He said the overall spend will be around $200 million.
The acquisition of Prime Asset Management Limited from the ICD Group in 2013 enabled the Victoria Mutual Building Society to enter the pension services market.
At the time, the pension fund company had $22.6 billion in funds under management, but it has grown by around 77 per cent since then.
Full Content: The Gleaner
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