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.