Italian and Luxembourg-domiciled asset manager ERSEL Sim S.p.A has selected Barra Performance on RIMES to service its performance measurement and attribution requirements.

RIMES Technologies is a financial data integrator and performance solutions provider for the investment community.

"Barra Performance on RIMES simplifies the use of equity and fixed income benchmarks, which come pre-loaded and ready to be utilised," said Christian Fauvelais, chief executive of RIMES.

The Ersel performance team will be able to tap benchmark and market data from RIMES, combined with the multi-asset class performance analytics from MSCI Barra, he said.

Founded in Turin as ‘Studio Giubergia', Ersel focuses on asset management services.

In 1983 it set up the first mutual fund management company authorised in Italy and, in 2000, was one of the pioneers in the hedge fund sector.

With a staff of 170 people employed in its three offices in Italy and its office in Luxembourg, Ersel now offers its private and institutional clients tailor-made private banking services.

Guido Giubergia, chief executive for Ersel, confirmed "we currently manage assets in excess of €6.5B and 26 mutual funds. Barra Performance on RIMES will enable our performance team to produce performance measurement and attribution analysis on our equity and fixed income portfolios and analyse the sources of portfolio return using the MSCI Barra attribution model, reflecting our investment processes."