Industry Funds Management (IFM) has signed an agreement to implement SunGard's Investran and VPM software to streamline the asset manager's back-office accounting across its investment products and portfolios.

The collective accounting and reporting features within the combined SunGard systems will help provide IFM with better data integrity and transparency, as well as give it access to a complete audit trail for accuracy, control and reliability.

"The IFM business is far more complex than it was when it last implemented a fund administration system in 2001," IFM finance and operations executive Philip Dowman said.

"Since 2001, IFM has seen 1100 per cent growth in products, 2500 per cent growth in funds under management, 714 per cent growth in staff and 217 per cent growth in clients across three geographies.

"With this growth, the analysis requirements by our investment teams, for clients, asset consultants, marketing and for the regulators, have also increased.

"To support this growth, the board of IFM has chosen SunGard to implement improved system capabilities to help improve the provision of investment information to its clients and help IFM effectively and efficiently deliver on its key strategic goals."

IFM, which is owned by 32 not-for-profit funds, manages more than $30 billion across four asset classes: infrastructure, private equity, debt investments and listed equity portfolios.