Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced Canadian investment firm Vertex One Asset Management Inc. as the latest client to sign up for its newly launched Linedata Global Hedge hosted platform.
Linedata's Canadian client base has grown by 35% since opening its Toronto office in early 2011, as that market looks for tools to meet its sophisticated portfolio requirements and growing need for strong automation and audit capabilities.
Founded in Vancouver in 1997, Vertex One has successfully grown its business, today running over $1 Billion in assets under management within six funds, comprising both alternative and mutual funds. The Vertex Fund is one of the largest and longest standing alternative funds in Canada. The continued success of the funds meant that Vertex One outgrew its custom-built portfolio management system and needed a robust replacement solution which would support the continued growth of the business for the foreseeable future.
After carrying out due diligence and receiving positive market feedback on Linedata from its peers, Vertex One selected the Linedata Global Hedge Portfolio Management hosted platform. Vertex One's needs were for a system which would support their growth aspirations and meet their requirements to carry out analysis at the strategy and fund levels. Jeff McCord, Managing Director of Vertex One explains: "In the Portfolio Management module of Linedata Global Hedge we have selected a solution which will help us improve on our alpha generation through better attribution and contribution analysis. We are constantly searching for ways to increase performance and the dependability of our systems; though the smarter use of technology with Linedata Global Hedge, we are confident we will be able to do just that."
An additional feature which appealed to Vertex One was the trade blotter with FIX connectivity to brokers as this will lead to greater efficiency in their trading strategies and assist in reducing operational overhead. Mindful of technology both as an investment and also as a competitive advantage, Vertex One was also impressed by the future-proofed technology and development plans for Linedata Global Hedge as well as its breadth of functionality. Rob Binnington, Manager of Operations at Vertex One, observes, "We are excited about the vision for Linedata Global Hedge. Its ability to perform real-time performance attribution, FIX-based trade allocation, reporting and accurate NAV reconciliation were key selling features for us. As well, as a hosted client, we will automatically benefit from new features and technologies of the latest versions as they come on board. Thus, going forward we will continue to leverage the technology to enhance performance and manage costs. It's also good to know that Linedata has an expandable platform for compliance, accounting and other tools should we require these in the future."
Gavin Little-Gill, acting as Managing Director of Linedata North America, comments, "Since opening our Toronto office last year, we are better poised to support our growing Canadian client base. We are pleased to welcome Vertex One as one of the growing number of Linedata clients in Canada. Linedata Global Hedge represents strategic investment by Linedata to meet the future needs of our clients and has attracted tremendous interest within our client base of traditional and alternative asset managers. I'm confident that this comprehensive solution will be able to support Vertex One's growth for years to come."