ISIS Fund Services Expands Portfolio Analytics With Linedata
ISIS Fund Services, a Bermuda-headquartered hedge fund administrator, has installed a technology platform from Linedata to expand the portfolio analytics available to its clients.
"Linedata's Beauchamp platform allows ISIS' clients to run reports on demand on portfolio positions, valuations, exposures, and profit and loss reports based on many different criteria such as industry sector, asset classes, geographies and top winners and losers," says Brian Desmond, chief operating officer for ISIS. "The powerful reporting engine will complement our existing accounting platform very well and will aggregate data from multiple prime brokers, providing slice and dice views of the portfolio with drill-down capability to transaction level detail."
The use of Linedata's Beachamp portfolio management platform fits into ISIS Fund Services' goal of increasing transparency and adding services to its clients beyond back-office functions. Regulatory initiatives and investor demands are prompting fund administrators to find new means of differentiation and spending on technology has become critical to staying ahead of the competition.
ISS Fund Services will add risk analytics reports in 2012 generated through the Beauchamp platform through Linedata's partnership with Riskdata. The partnership, announced by Linedata late last year, allows Riskdata's risk analytics functionality and data service to be integrated with Linedata's Beauchamp portfolio management platform for end of day risk reporting and interactive risk analyses. Linedata's hedge fund clients can minimize their data management overhead because they don't need to do custom integration and rely on multiple data vendors.
Established in 2007 by a team of former Citi hedge fund administration and operations executives in Bermuda, ISIS Fund Services has so far mainly offered traditional back-office services such as fund accounting, valuations and shareholder recordkeeping using a platform provided by Australia's Pacific Fund Systems called PFS-Paxus.
The new portfolio analytics services will likely help ISIS Fund Services broaden its reach to the U.S. market where it opened an office in Charlotte, North Carolina in 2010. About 35 percent of the $4 billion in hedge fund assets it administers are in U.S. domiciled funds while 65 percent is in offshore, domiciled in Bermuda, British Virgin Islands and Cayman Islands. In 2011 ISIS Fund Services formed a new company called ILS Fund Services Ltd through a joint venture with the Horseshoe Group that specialize in the administration of funds investing in insurance linked services.
With U.S. headquarters in Boston, Linedata provides front-end order and execution management platforms as well as fund accounting and investor accounting platforms to over 230 fund managers and administrators. Linedata would not specify how many fund administrators are using Linedata Beauchamp or name any but says that, like ISIS, they are using the front-end system to broaden their service offerings. Linedata inherited the Beauchamp platform through its 2005 takeover of Beauchamp Financial Technology, a UK based provider of trading and portfolio managmeent software for the hedge fund market.
Written by Chris Kentouris, Editor-in-chief (Chris can be contacted through Chris.Kentouris@hotmail.com)