Macquarie Funds Management has selected a new investment accounting platform to help it service a business responsible for more than AU$40 billion of investors' funds.

In a statement issued today, vendor SimCorp said the fund manager would acquire its Dimension platform to deliver mid-office and back-office functionality such as accounting, taxation, asset valuation, settlement of investment transactions, compliance monitoring, reporting and performance information.

Christian Vignes, chief operating officer for Macquarie, said the system most closely met the fund manager's requirements "at this point in time" to administer its wide range of portfolios and securities.

Macquarie is understood to have opted to replace its existing DST HiPortfolio system after an assessment of the ability of platforms available in the Australian market to deliver efficiency and flexibility to its business.