Southpaw Asset Management LP, a Greenwich, CT based investment manager, has selected SunGard's VPM, a multi-currency, multi-asset, portfolio accounting and reporting solution for hedge funds to help manage its portfolio accounting and reporting requirements.
VPM will be delivered through SunGard's Hedge360 integrated platform which hosts and supports the complete investment lifecycle for hedge funds and alternative asset management firms.
Southpaw selected VPM to help provide enhanced trade capture and back office portfolio accounting for secured and distressed bank debt, high yield bonds, convertible bonds, equities, options and credit default swaps. Automated reconciliation tools are also as part of the solution, which will help Southpaw reconcile its cash and positions with its prime brokers.
Bob Thompson, Chief Financial Officer at Southpaw Asset Management LP, said, "SunGard's VPM is an easy application to use and the persistence of processed data helps ensure a high level of transparency. VPM will help us better focus our efforts on investment management: delivered through the Hedge360 platform it will help reduce our time and resources devoted to issues around software upgrades, data back-up and disaster recovery. This will also help us streamline costs and improve operational efficiencies."
The Hedge360 solution uses flexible technology to deliver the components of SunGard's suite of solutions for hedge fund and alternative asset manager's which range from portfolio management to risk management, portfolio accounting and reporting with dedicated coverage of convertible arbitrage strategies and independent valuation. Customers may select only those components of the solution that they require, and can add additional features and functionality on an as-needed basis to help them streamline operations and better bridge gaps between front, middle and back office operations.
Scott Alintoff, Chief Operating Officer of SunGard's VPM, said, "The need for transparent reporting and operational efficiency is greater than ever. VPM will help Southpaw better cater to today's growing investor demands by streamlining back-office accounting and investor reporting with a scalable platform to meeet demands."