CDC IXIS Asset Management, has selected Riskdata's HEDGiX solution to manage the risk of its alternative investment portfolio. HEDGiX is the first ASP solution allowing pre-emptive risk management for hedge funds and funds of funds.
Olivier le Marois, CEO of Riskdata, said: "An appropriate and direct dialogue is required between fund managers and their investors in order to support and secure the flow of institutional money to the alternative investment community."
He added: "HEDGiX has been developed in close consultation with the hedge fund and fund of fund community to support this dialogue. It addresses the investors' requirements in term of risk reports, allows the full interactivity required for an in-house risk management system, and leaves all proprietary data and models under the user's full control."
Nathalie Pistre, Head of Risk management at CDC IXIS AM, said: "For us serious risk management, particularly for alternative investments, means having total control of the models used to estimate the behaviour of assets. This is especially important in the field of complex derivatives (convertible bonds, credit derivatives etc.) with a mixture of market and credit risk and non-linear behaviour. At the same time, we need solutions which are fast to implement and easy to maintain. As an ASP, Riskdata offers an "all in one" service, and offers a solution where the proprietary data and the models remain under the user's full control."
Philippe Uzan, Manager of the CDC IXIS multi-strategy fund, added: "Our multi-strategy hedge fund includes long-short equity, event-driven, CTA and futures, macro and convertible arbitrage, with each strategy manager using a specific dedicated management system. The challenge for us was to get an aggregated view of the fund risk profile while tracking the specific risk of each underlying strategy. We think Riskdata is able to address both of these issues simultaneously. Moreover, we can monitor the impact of any portfolio allocation on the fund risk profile."
Background Note: With over USD 311 billion in assets under management at the end of June 2003, CDC IXIS Asset Management Group has strengthened its position in France as a leading asset manager for third-party assets,
With offices in the dollar, yen, euro and sterling regions, the 2,000 CDC IXIS AM professionals draw upon diverse and complementary management styles and asset classes offering solutions tailored to the requirements of institutional investors, corporations, major private clients and distributors. CDC IXIS Asset Management is a subsidiary of CDC IXIS.
Riskdata's team includes investment practitioners, risk management experts and I.T specialists. Its aim is to offer to all money managers easy, interactive and intuitive access to any risk analysis. It is supported by leading figures, such as Professor Robert Mundell, a past winner of the Nobel Prize for Economics.
It is the first service offering a daily updated view on all market classes: equities, fixed-income, listed and OTC derivatives. As an interactive system, rather than classic ASP model, there is no exporting of clients' positions while deployment is quick and simple.
Riskdata offers a comprehensive suite of solutions for Alternative Management, adapted to all investment styles: E.g. Fund of Funds, Equity Hedge, Fixed Income Arbitrage, Convertible and Volatility Arbitrage, as well as equity and fixed-income benchmarked funds etc.
copyright hedgeweek 2003