Comada's new Mat:share offering is designed to help funds of funds managers improve efficiency in their portfolio management and operational activities.
Mat:share is the only internet browser-based, hosted portfolio management solution that allows managers to control fund portfolio information, and access it from anywhere in the world via an Internet connection. It is a front, middle, and back office solution that can integrate portfolio, trading, and proprietary fund market data, as well as fund documentation and is licensed on a monthly fee basis.
"Comada treats funds as securities," said Rupert Vaughan Williams, Comada co-founder. "Rather than attempting to fix existing technology around them we developed Mat:share because we understand the particular attributes that funds have. We look at funds as unique securities in their own right."
Mat:share is being targeted at funds of funds, investment banks, family offices, administrators, and custodians. With extensive global operations spanning analysis, research, due diligence, operations, and sales activities, these entities are coming under increasing pressure to raise standards due to the substantial capital flows they have experienced in recent years.
"Funds of funds pose greater risks to administrators and custodians than servicing most hedge funds, because of the private placement structure of the hedge fund as an investment instrument," commented Dave Shastri, another of the Comada founders. "In addition, their clients expect the fund's service provider to act in executing trades. This in turn implies a real-world risk beyond their historic accounting, settlement, and safekeeping role. Mat:share allows organisations to create a clear workflow and to reduce operational risk."
Mat:share offers fund managers facing the increased operational risk burdens imposed by institutional clients with a robust and reliable online solution that integrates portfolio processing, trading, reporting, and pricing activities in a seamless and low-risk package. Using Mat:share, any user can operate all their key activities online, place trades, and produce client portfolio valuations. They can also access all their key data regardless of their own location.
Comada was founded in 2004 by the software development team behind FundXchange, an offshore platform that was acquired by the Zurich Group in 2001. Comada has been established to develop software technology that addresses many of the operational issues faced by fund managers, administrators, custodians, family offices, and investment banks. Its Mat:ware products focus on reducing operational risk via the application of browser-based architecture, facilitating external connectivity to an instrument's service providers, as well as properly integrating data within the disparate parts of an organisation. Comada operates its technology on Microsoft's ASP.Net architecture, offering a cost-effective alternative to the legacy issues and high costs involved with building such solutions internally.