SunGard's VPM portfolio accounting solution is to be offered as part of Bloomberg's hedge fund solution suite.
SunGard's VPM will be integrated with Bloomberg's execution platform, Bloomberg Tradebook, and its order management system, Bloomberg Asset & Investment Manager (AIM). The combined solution will help customers gain greater operational transparency and improve their investor reporting capabilities.
The integrated offering provides emerging hedge funds with access to a front-to-back ASP solution via the BLOOMBERG PROFESSIONAL service, without the cost of implementing and maintaining multiple systems. The offering will be delivered on an application service provider (ASP) basis. VPM's physical general ledger and investor reporting capabilities will be fully integrated into the offering, creating a comprehensive solution on the Bloomberg desktop.
Brenton Karmen, head of trading systems and workflow solutions at Bloomberg, commented, "The integration with SunGard's VPM allows us to better serve emerging hedge funds by providing a full front-to-back office solution allowing funds to independently service their investors. The solution will help funds to better manage risk while providing transparency into investment activities that sophisticated investors require."
Julie Rice, managing director, Americas for SunGard's alternative investments business, said: "This integration allows us to offer fund managers a portfolio accounting system that integrates directly into Bloomberg's front- and middle-office. An integrated general ledger helps funds independently produce reports to accurately track investments and provide institutional investors timely reports."