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Technology Brief: Sophis releases enhanced VALUE v2.1

Paris-based Sophis has launched an enhanced version of VALUE, its one-stop shop solution for the buy-side, providing advanced cash management, reconciliation capabilities and integrated VaR calculations.

VALUE is a cross-asset one-stop shop portfolio and risk management system that includes real-time position-keeping, fund and cash management, NAV calculation, derivative instruments pricing, 'what if' scenarios, stress-tests, risk matrices, VaR, limits management, performance analysis, reporting and automated reconciliation.

The new version of VALUE, called VALUE v2.1, incorporates significant additions for alternative investment. Version 2.1 makes automatic performance fees calculations possible, applying methods such as high water mark and credit equalisation.

V2,1's performance fees calculations, combined with its flexible management of funds' subscriptions, permits hedge funds to calculate an accurate NAV and to guarantee their investors an accurate repartition of fees.

Other major enhancements include the generation of cash statements with trade details per account, allowing hedge funds to manage their cash positions with multiple prime brokers.

In v2.1, VALUE's automatic reconciliation has gained extra powers through the diversification of file formats and exchange methods. Thanks to its widespread uptake by hedge funds who asked for customised interfaces with their third parties, VALUE today provides 'plug and play' links with major prime brokers (including Goldman Sachs, Morgan Stanley, Deutsche Bank, Credit Suisse First Boston and Fimat), fund administrators (CITCO, IFS) and service providers (Globe Op). It can be connected with other players in a very short time frame.

The new version also includes a parametric VaR module featuring computational capabilities designed to enable users determine market risk exposure with flexibility and accuracy.

Background Note: Sophis provides cross-asset and fully integrated portfolio and risk management solutions to the sell and buy sides. Sophis was founded in 1985 and is established in London, Paris, New York, Frankfurt, Hong Kong and Tokyo. The company's philosophy is to design flexible, open and scalable solutions. Sophis systems are used today by more than 70 leading financial institutions worldwide.

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