ConvergEx launches liquid alternatives solution 05 November 2014New York Reporter: Stephanie Palmer
Image: Shutterstock
ConvergEx Prime Services has unveiled a new solution for managing liquid alternatives, designed to support hedge and mutual fund companies.
The solution was created in partnership with software development and data management firm Portfolioshop. It works by reconciling data from the trust bank, prime broker and fund administrator required to support liquid alternatives.
By accumulating data from all three sources, the software can provide greater accuracy, while daily reports can include value at risk analysis, stress tests, and performance attribution.
Douglas Nelson, ConvergEx Group executive managing director, said: “Reconciliation between multiple custodians and administrators can be a big expense for any firm, especially for ‘40 Act registered funds that are required to use certain types of custodians.”
“Our new service significantly simplifies this process, saving our clients time and money, and reducing staffing needs.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 