Vertex Capital Management has migrated its Vertex Evolution UCITS fund to Circle.2, Point Nine’s live and cloud based middle and back office services platform for hedge funds.
The London based investment advisory firm selected Point Nine’s operations services and proprietary Circle technology platform when it launched in May last year. A new release, Circle.2, provides live and cloud based trade reconciliation and settlements for the first time, enabling fund managers to view key information such as counterparty exposures and settlement reports in real-time.
Carl Mauritzon, founder and CIO of Vertex Capital Management, said, “Operations infrastructure was one of our biggest worries prior to launching, as we have limited internal resources and did not want to hire dedicated staff. We selected Point Nine because they provide a fully outsourced and cost effective technology platform, as well as experience in supporting new managers. Point Nine are our operations partner and we sleep easier knowing this side of our business is taken care of by experts, allowing us to focus completely on fund management.”
Circle.2 interfaces with all third party vendors and their respective systems for seamless automated straight through processing of most daily tasks. Trades are processed, tracked and reported via encrypted channels, which clients access through a secure internet browser to view, manage and fully analyse their portfolios.
Phillipa McLune, head of sales at Point Nine, said, “Vertex Capital Management were up and running on Circle within 3 weeks of our initial contact. They didn’t need to recruit anyone or buy in any technology and were impressed by our complete trade life-cycle processing, operations management and reporting. As with all our clients, Vertex will be upgraded to the latest version of our Circle platform with no cost to them, which is one of the benefits of our ‘software as a service’ (SaaS) web-delivered infrastructure.”
Point Nine facilitates trade capture, reconciliation and settlement support across a comprehensive range of asset classes including equities, bonds, FX, commodities, rates, loans and alternatives – vanilla, exotic, exchange traded and OTC. T
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