SemTrac supports Union Investment
with new software

Press release
Stephanskirchen, May 31, 2011

Founded in 2008 in Stephanskirchen, SemTrac Consulting AG is specialized with its consulting competence and IT services on the real estate sector, in particular on real estate investment funds and commercial real estate management.

SemTrac offers SAP®-based software solutions which can be integrated seamlessly and without delays in existing installations or added on to them. This also includes the professional migration of old systems which no longer fulfill the requirements.

After SemTrac asserted itself against the competition with its Sem.FUNDS.line software in a tendering procedure, the ambitious project began with Fund Accounts Real Estate, the responsible department of the client Union Investment: the introduction of the Sem.FUNDS.line Software Suite for the share value calculation of the open real estate funds of Union Investment Real Estate GmbH and Union Investment Institutional Property GmbH.

Fully integrated in SAP ERP®, the Sem.FUNDS.line Software Suite stands for the continuous representation of the fund-relevant processes and the statutory reporting obligations. The user-friendly software is distinguished by its flexibility and release-stable performance, but also by its modular, adaptable structure which can be individualized and optimized to suit the client's specific needs.

With real estate fund assets of around € 19.3 billion, Union Investment is one of Europe's leading real estate investment companies. Accordingly, the demands in terms of performance, punctuality and trouble-free operation in the conversion phase are very high.

Initialization started in July 2010, and in April 2011 the new software was to go live, so that there was just 8 months time for this major project.

Michael Herzog, director of the department Funds Accounting Real Estate commented: “The project is subject to a very ambitious time schedule… and demands a high degree of personal commitment from everybody involved.”

The SemTrac consultant team and the parties in the units concerned of Real Estate Funds Account Rendering, Controlling and Central Tasks Real Estate Management at Union Investment entered into a proactive partnership from the very start to meet this challenge.

Under the supervision of SemTrac managing director Klaus Letzing and the project managers Frank Kuchmetzki and Jan Wangermann on the Union Investment side, the Sem.FUNDS.line solution was used on the one hand to migrate the share value calculation – which had previously been linked via an SAP® periphery system – to a fully SAP®-integrated system. Parallel to this, the system was converted to an exact daily representation of costs and yields on the level of individual properties and the representation of several share classes within the fund.

After a successful test phase, the project “ImmoPreis” was able to start according to schedule in April 2011 after the go-live of the SemTrac software Sem.FUNDS.line.

Union Investment