Productivity Enhancement| Fi-Tek Customer Centric Financial Technology Software

HedgeTek helps enhance productivity for a large Hedge Fund Manager

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Client Profile

  Our client is one of the largest institutional alternative asset managers in the world. The firm serves the investment needs of a diversified institutional base through various investment opportunities that includes funds with multi-prong strategies, collateralized loan obligations and other alternative investment vehicles.
 

Problem Definition

 

The fund controllers were using Excel spreadsheets to allocate several thousand investors across multiple funds, encompassing hundreds of profit & loss items and side pockets. The fund management process was getting cumbersome, time-consuming and error-prone with the increase in business complexities.

Moreover, the size of the fund and untapped potential for growth was a matter of deep concern for the firm’s leadership who was also apprehensive about meeting client deliverables. To get rid of the crisis, the firm reviewed several vendor and internal solutions before selecting HedgeTek. HedgeTek was selected due to its rich functionalities, ease of use and encouraging results during system trials.

 

Solution Offered

 

The funds were setup on HedgeTek by Fi-Tek’s implementation team in a short span of time. Fund processing was required to be closed by middle of each month. To meet the target, several automation tools were built to upload transactions like P&L, Capital transaction and Side Pocket investments. Modules were enhanced to handle customized calculation and new reports were designed for internal controls.

 

Benefits Derived

 
  • Fast and accurate fund processing and reporting
  • Elimination of laborious and error-prone manual data entry
  • Customized reports and batch upload tools enabled fund accountants to devote their time and energy on fund management – their core competency
  • Leapfrogging from Excel sheets to HedgeTek, the firm was able to process many more funds productively and profitably within a short span