The Conifer Group has launched Conifer iCon, the first cloud-based solution delivering an entire suite of asset servicing processes, including a data repository and in-depth attribution reporting, from one customisable portal.
For the first time, hedge funds and other money managers can run investment operations via a browser without needing an expensive in-house technology infrastructure.
"As investors continue to clamour for enhanced performance reporting and transparency, accurate and timely risk and attribution reporting has become a top priority for hedge fund managers," says Jack McDonald, President and CEO of The Conifer Group. "By bridging every investment support process that managers rely upon into a single cloud environment, Conifer iCon gives fund managers a better understanding of their risk and performance characteristics, enabling them to control their portfolios more effectively. This new technology draws upon our 24 years of experience successfully servicing a diverse range of asset managers, resulting in a powerful new product that didn't exist before today."
At the centre of Conifer iCon is an intuitive dashboard that enables users to compile, compare and analyse historical and real-time market data in a customisable and detailed manner. The result for managers is enhanced asset-level risk and attribution reporting, information that is critical in today's volatile markets.
Users will have 'anywhere, anytime' web access to Conifer iCon via PC and mobile devices, including iPhones and iPads via a custom app. This new architecture also addresses the disaster recovery requirements needed in today's more robust and cost effective operating environment.
The iCon platform strengthens Conifer's existing middle- and back-office offerings to create a complete, cloud-based outsourcing model for money managers that removes the need to run multiple in-house hardware and software systems. The platform is product agnostic and has the scalability to integrate a vast array of external prime broker, custodian and other third-party data feeds. Cloud technology enables functional enhancements to be completed at a fraction of the time and cost typically required by an enterprise-based system. Conifer iCon's cloud-based infrastructure was developed by InvestCloud Solutions, LLC, the company's joint venture with InvestCloud LLC. Core to this new venture is technology powered by Advent Software.
Pete Hess, President of Advent Software, says: "Conifer's partnership with InvestCloud represents a forward thinking solution powered by Advent."
Conifer iCon represents the culmination of the firm's three-year development program to address the evolving needs of asset managers. Conifer will migrate all of its clients to iCon by early 2012. The company will also look beyond its traditional hedge fund client base to larger hedge funds, family offices, pension funds and endowments, as the appeal of cloud-based asset servicing platforms grows and relentlessly increasing cost and complexity push in-house enterprise software solutions out of favour.