Paris-basedEdmond de Rothschild Asset Management has become the second French client of Danish financial technology firmSimCorp and will now use SimCorp Dimension as the platform for its domestic and international asset management activities.

Initially, Edmond de Rothschild Asset Management will use SimCorp Dimension to support its front office, middle office and fund administration activities primarily in Paris, but also in the rest of Europe and Asia.

SimCorp Dimension, which focuses primarily on portfolio management, risk management, performance measurement, compliance and fund administration, was chosen after a detailed selection process on the basis of its flexibility and functionality, Edmond de Rothschild said.

"SimCorp opened an office in France earlier this year and this new agreement is an important step in our ambitions of penetrating the French market. This is our second client in France and proves the benefit of SimCorp Dimension as the back-bone asset management system for an international group," said Troels Jensen managing director of SimCorp France.

SimCorp, which is headquartered in Copenhagen, provides software for fund and investment management companies, pension funds, banks and insurance companies.

Founded by Baron Edmond de Rothschild in 1953, the LCF Rothschild Group includes private banking, asset management and advisory services operations, and has more than €100 billion (around $132 billion) in assets under management.