Confluence Technologies, the global technology solutions provider delivering innovative investment data management automation, today announced that the Public Investment Corporation (PIC), one of Africa’s largest asset managers, based in South Africa, has successfully completed its migration to Confluence’s cloud-based Revolution platform.

The transition marks a significant milestone in the PIC’s modernization program, providing a unified performance, attribution and GIPS^® Composites solution built on the latest cloud technology. The move from the legacy StatPro Seven system to Revolution was completed within six months – faster than typical timeframes for projects of this scale.

“Moving to Confluence Revolution keeps us at the forefront of the technology curve,” said August van Heerden, Chief Risk Officer and Acting Chief Investment Officer at the PIC.

“The new platform consolidates our performance data into a single, cloud-intrinsic source, improving efficiency and giving our teams access to the latest analytical tools and development roadmap from Confluence. Similar projects typically take 12–18 months. Completing this in six months is a remarkable achievement that reflects the commitment and collaboration of all parties involved,” confirmed Khathu Nedzamba, Manager of Performance and Attribution for the PIC.

The PIC upgrade was driven by the need to replace an end-of-life system with a scalable, future-ready solution. Working closely with Confluence’s analytics and implementation teams, the PIC completed the transition ahead of schedule. Confluence teams based in London and Cape Town managed the overall project through its critical phases, with their professionalism and deep technical expertise ensuring a smooth transition for one of South Africa’s largest and most sophisticated institutional investors.

“The PIC’s move to Confluence Revolution underscores its commitment to continuous innovation,” said Craig Arenhold, VP and Director for Confluence South Africa. “Confluence Revolution provides a future-proof, cloud-intrinsic solution that enables clients to harness data more effectively and stay ahead of evolving performance, risk, and regulatory requirements. We are tremendously proud of the success of this project and our longstanding strategic association with the PIC.”

The Public Investment Corporation Limited is wholly owned by the Government of South Africa and manages over ZAR 3 trillion (USD 180bln) in assets, primarily on behalf of public sector entities such as the Government Employees Pension Fund (GEPF).

About Confluence®

Confluence Technologies is a global leader in enterprise data and software solutions for regulatory, analytics, and investor communications. Our best-of-breed solutions make it easy and fast to create, share, and operationalize mission-critical reporting and actionable insights essential to the investment management industry. Trusted for over 30 years by the largest asset service providers, asset managers, asset owners, and investment consultants worldwide, our global team of regulatory and analytics experts delivers forward-looking innovations and market-leading solutions, adding efficiency, speed, and accuracy to everything we do. Headquartered in Pittsburgh, PA, with over 700 employees across North America, the United Kingdom, Europe, South Africa, and Australia, Confluence services over 1,000 clients in more than 40 countries. For more information, visit Confluence.com.

About Public Investment Corporation

The Public Investment Corporation SOC Limited (PIC) is an asset management firm wholly owned by the Government of the Republic of South Africa, represented by the Minister of Finance.

Established in 1911 as the Public Debt Commissioners, the PIC was corporatised on 1 April 2005 in accordance with the Public Investment Corporation Act, 2004. The PIC ranks amongst the best and most successful asset management firms in the world and is one of Africa’s largest asset managers, and by far, the largest shareholder on the Johannesburg Stock Exchange (JSE).

PIC’s clients are mostly public sector entities, which focus on provision of social security. Amongst these are the Government Employees Pension Fund (GEPF), Unemployment Insurance Fund (UIF), Compensation Commissioner Fund (CC), Compensation Commissioner Pension Fund (CP) and Associated Institutions Pension Fund (AIPF).

The PIC runs a diversified investment portfolio, which comprises of multiple asset classes. These include listed equities, real estate, capital market, private equity and impact investing. Through listed investments, the PIC controls over 10% of the JSE and has direct and indirect exposure to almost all sectors of the South African economy. The Corporation has a mandate to invest in the rest of the African continent and beyond. Over and above generating financial returns for clients, through its impact-investing programme, the PIC seeks to generate social returns by investing in projects that ensure inclusive growth and job creation. The PIC supports the United Nations’ Sustainable Development Goals and considers environmental, social and governance (ESG) issues in all its investments.

For more information, visit https://www.pic.gov.za/

GIPS^® is a registered trademark owned by CFA Institute.

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