Virtus chooses SunGard VPM portfolio 28 July 2015New York Reporter: Stephanie Palmer
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Virtus Partners has launched a new hedge fund administration service and appointed SunGard’s VPM portfolio for accounting and reporting.
The new service focuses on credit and fixed-income managers, and combines Virtus’s credit and fixed-income strategies with the SunGard platform to support clients’ middle- and back-office operations and they trade in and out of positions.
It is designed to make credit trading more efficient while remaining as transparent as possible, and to help mitigate risks and the associated costs.
Jeffery Law, head of hedge fund services at VP Fund Services, the wholly-owned subsidiary of Virtus Partners Holdings, said: “We selected VPM on the basis of its flexible architecture and easy integration with Virtus’s existing platform, which allowed a rapid time-to-market for the fund administration service.”
“Additionally, the transparency afforded by VPM gives our clients the capacity to log directly in to our portfolio accounting system on a read-only basis to examine the processing and service in real-time.”
Scott Alintoff, COO of VPM, SunGard’s asset management business, said: “SunGard’s VPM is a real-time, multi-currency portfolio accounting and position management solution for hedge funds that provides the scalability that Virtus needs.”
“Virtus is now able to support new lines of revenue for alternative investment managers who previously may have faced high operational barriers to entry.”
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