MIK Fund Solutions, a leading provider of decision support software solutions for alternative asset managers, today announced that Haifeng Technology Co., Ltd., the first independent Private Fund administrator and middle office service provider that has been licensed to operate in China, has selected MIK to provide its Security Master and Data Warehouse software for the processing and reporting required for sustainable and successful fund administration and outsourcing.
The announcement is the second in a series of strategic developments by MIK in China, following on the announcement of the opening of a Shanghai office.
Haifeng Fund Services and Technology, as a fund administrator, not only supports the processing and fund accounting services required specifically for the China market, but is creating an offering to provide a comprehensive range of services for the company-level management, decision-makers and investors. This decision making capability is synergistic with MIK, which moves well beyond data warehousing to deliver actionable information to C-level asset managers that integrates risk, accounting, treasury and portfolio systems data - providing the ability to make informed decisions where information is tied to an investment thesis.
Over 60 multi-billion dollar hedge funds, fund of funds, and private equity funds rely on MIK for sophisticated software solutions for real-time PNL, Data Warehousing, Performance/Attribution, Compliance, Treasury Management, Security Master/Price Management, and Broker Relationship Management. Clients are assured that these applications are fully integrated with an advanced approach to the warehousing of the underlying source data (be it internal or external). The resulting tailored reporting gives managers of any asset class and strategy the ability to assess risk accurately and make informed trading and portfolio decisions that directly impact performance and productivity. As a result of this approach, the confidence that clients place daily in MIK has secured its place as the innovator and industry leader.
Fadi Kaddoura, CEO of MIK said: “Verifiable data lies at the heart of reporting and investor confidence in asset management. As China builds out its asset management industry, the ability to tap into the MIK product suite will aid in data management, warehousing, and the attendant accurate reporting investors require. We are grateful for the confidence that Haifeng has placed in our capability, and we are keen to assist in the development of robust markets worldwide.”