Axioma, a provider of enterprise market risk and portfolio analytics solutions, has extended its relationship with Quoniam, a leading quantitative asset management firm headquartered in Frankfurt, with more than €26 bn in assets under management.
Now with the implementation of Axioma Risk, Quoniam will be able to improve the quality of their daily risk reporting across the firm's diverse and sophisticated investment strategies, independent from proprietary risk models the company utilizes in the portfolio construction process.
Quoniam’s selection of Axioma Risk follows a competitive process to replace its incumbent solution, Barclays POINT, which Bloomberg agreed to acquire in December 2015 and announced that it would only continue supporting for 18 months after the completion of the acquisition.
Axioma Risk, a highly scalable platform, provides complex risk reports as well as ad hoc deep dive risk analyses for various asset classes. With Axioma Risk, Quoniam’s risk department can define and customize the statistics it uses for risk figures and stress tests, which enables Quoniam’s risk team to quickly name and quantify risks associated with investments under its surveillance. Axioma Risk’s flexible and scalable architecture ensures that Quoniam can meet and fulfil clients’ and regulators’ future risk requirements.
"Quoniam has been a valued client of our portfolio construction and optimization products, and we will now be able to deliver Quoniam an integrated solution that provides the firm with one independent view of investment risk across its front and middle offices," said Adrian Zymolka, Axioma’s Managing Director, Germany.
For more than 15 years, Quoniam has provided the latest quantitative asset management techniques to institutional investors in Germany. Now with Axioma Risk, Quoniam will have an independent insight into its risk across multiple portfolios containing equities, fixed-income securities and commodities, allowing for more effective and timely reporting of these risk factors for clients. Continuing, Adrian Zymolka at Axioma, said: "Our expanded relationship with Quoniam reflects our ability to deliver unrivalled multi-asset class risk solutions for even the most sophisticated quantitative investors."
Ingo Purwien, COO, Quoniam, said: "We have a long and successful relationship with Axioma and this was an important factor in selecting Axioma Risk. However, it's not the only reason we decided to extend our relationship. After an exhaustive review of the market, Axioma Risk was best suited to our needs in terms of functionality and flexibility. We also liked how Axioma provides local support and expertise through its Frankfurt office."
Modern and flexible technology is an important success factor for asset managers in a highly competitive environment. Firms can take advantage of Axioma Risk’s interactive workflows, analysis and flexible operating environment to provide an independent measure of risk in their portfolios.
“To support the increasingly challenging search for alpha and maintain competitiveness in an industry burgeoning with evolving strategies and investment mandates, asset managers and hedge funds are constantly looking for platforms to provide the highest levels of support for multi-asset class portfolios, as well as risk analytics and optimization. The functionality provided by Axioma Risk covers a broad range of these needs for its clients,” said Danielle B. Tierney, Senior Analyst, Aite Group.