Wegelin Fondsleitung, the fund accounting arm of Wegelin & Co, has implemented Asset Arena Investment Accounting, the investment accounting and reporting software product from SunGard.

Wegelin Fondsleitung already uses SunGard’s banking and portfolio management platform, Ambit Apsys. Asset Arena, which includes several financial instruments, will integrate well with Ambit Apsys and allow Wegelin Fondsleitung to increase the automation of its fund accounting processes, the firm said in a statement. Asset Arena will also help to address Wegelin’s local compliance, legal and tax requirements and improve customer reporting.

“SunGard was able to meet our aggressive implementation schedule, allowing us to begin the year fully functional on its robust platform,” said Jelmer van der Meulen, managing director of Wegelin Fondsleitung.

Van der Meulen added that Asset Arena will help the firm to increase its operational efficiency and offer more transparency.

“We are confident that we have found the most reliable partner whose breadth and depth of proven solutions will provide us with the flexibility and scalability needed to continue to grow our business,” he said.

Founded in 1741, St Gallen-based Wegelin is Switzerland’s oldest private bank, managing client assets of more than SFr26 billion ($22.4 billion).