Formicary and Equinoxe Alternative Investment Services have launched a business solution called Hedge Fund in a Box, to give hedge funds with assets of less than USD1bn under management a stronger grasp of risk exposure and improved visibility with less administrative burden.
Hedge Fund in a Box aims to make it easier and more cost effective for hedge funds of this size to use sophisticated trading platforms to gain competitive advantage.
A full range of software solutions for front, middle and back office requirements is offered for any and all hedge fund strategies.
The full technology hosting means that the visibility of the business is dramatically increased. This enables a hedge fund to go live as soon as six weeks with no complex installation required.
Formicary manages the IT infrastructure 24/7, allowing fund managers to securely access their entire corporate infrastructure anywhere in the world via an internet connection.
Equinoxe manages the middle and back office functions whilst also providing fund administration support.
Available through a subscription payment model, Hedge Fund in a Box offers an alternative pricing mechanism. It is based upon a shared risk reward with a variable cost base, allowing a marrying of fund revenues to fund expenses, replacing the fixed cost base.
“We’re now in a new era of transparency and accountability, which is difficult for those organisations still running their business on spreadsheets or across multiple solutions,” says Greville Lucking, chief operating officer, Formicary. “These fund managers are finding themselves distracted by administrative tasks and IT infrastructure rather than the day to day job of making sound, profitable investments. In order to address these challenges, and for hedge funds to reap maximum reward, we developed Hedge Fund In A Box to make processes as clear cut and manageable as possible.”
Stephen Castree, group chief executive at Equinoxe AIS, an alternative investment fund administration company, adds: “Organisations are more cost conscious than ever before but investors increasingly want evidence that they will be dealing with a well run company before deciding to invest with them. Add the ever changing regulatory framework into the mix and hedge fund managers soon find themselves balancing books, updating and creating reports just to keep their heads above water. Hedge Fund in a Box is the perfect antidote, providing a cost effective, transparent, solution for running a business based on the most accurate data available. It allows a manager to do what they are best at, creating alpha whilst knowing that the rest of the business is being looked after.”
