RiskMetrics Group, the leading financial risk management firm, today announced an agreement with Weston-Atlas Partners Funds (Partners), launched in January 2004, closed to new investments in September 2004.
Weston is partnering with RiskMetrics Group to enhance and complement its existing capabilities in the areas of portfolio risk analytics and risk reporting.
Partners will implement RiskMetrics Group's HedgePlatform suite of risk measurement and reporting systems tailored specifically for the hedge fund industry. RiskMetrics Group's software facilitates the creation of tailored, flexible Value-at-Risk (VaR) reports and stress tests. In addition, portfolio-level risk information can be broken down and viewed in various ways, allowing fund managers to quantify risk exposures, simulate market scenarios and conduct sensitivity analyses. Reports generated by HedgePlatform will provide Weston with complete risk transparency across its multiple hedge fund strategies.
"Weston-Atlas Partners Fund is pleased to have engaged RiskMetrics Group to provide risk reports on the seven firms we incubated in our Partners Fund I," said Christopher L. Kelley, a Managing Director of Weston Partners Fund. "This risk management process will complement our internal risk management efforts."
From the perspective of investors in the Weston Partners Fund, the added layer of risk transparency provided by RiskMetrics Group's HedgePlatform is indispensable.
"A standard methodology for evaluating and reporting risk across multiple funds is critical for today's fund-of-funds managers," explained RiskMetrics Group CEO Ethan Berman. "We're pleased to be working with Weston to help provide a transparent framework for communicating about the risks in alternative investment portfolios."