Hemisphere, a BISYS division and the largest hedge fund administrator in Europe as well as the third largest globally, is preparing to launch h-EDGE, an enhanced technology platform, later this year.
The h-EDGE TM servicing platform will integrate Hemisphere's proprietary technology with the sophisticated technology provided by Eagle Investment Systems to create a flexible, cost-effective, state-of-the-art outsourcing solution for hedge fund sponsors.
Tom Healy, President of Hemisphere, said: "Integrating Hemisphere's proprietary technology with Eagle's industry-leading product suite, which includes the Eagle PaceTM, Eagle STAR(, and PT-Plus systems, will materially differentiate the h-EDGE platform from the other outsourcing solutions available to support hedge funds. Unlike these other offerings, our solution will provide unmatched flexibility which will allow us to easily customise the platform to meet each individual client's unique and evolving processing and reporting requirements."
This enhanced platform expands the current hedge fund administration services offered by Hemisphere with advanced capabilities that support straight-through securities processing, reconciliation, and pricing; daily P&L reporting; and flexible Web-based reporting and inquiry functionality for portfolio analytics.
The rules-based architecture of Eagle's integrated product suite facilitates rapid changes to the platform's functionality without onerous programming intervention or resources. Combining this unique system architecture with Hemisphere's proprietary integration, reconciliation, and share register products will provide a comprehensive and scalable servicing solution that can support the increasing complexity of hedge fund products and their distribution.
Bill Tomko, president of BISYS' Investment Services group, said:"The h-EDGE platform evolved out of BISYS' and Hemisphere's best-of-breed approach to technology which supports hedge fund managers and investors with the most up-to-date, accurate, and easily accessible information. Our new servicing solution will strategically enable investment managers to focus on asset growth, while reducing back-office requirements and the related costs."
David Palten, president of Eagle Investment Systems, said, "We are delighted to partner with BISYS/Hemisphere and to strategically leverage its hedge fund administration expertise to complement our cutting-edge technology. We believe this alliance will generate an exceptional, state-of-the-art outsourcing solution for the dynamic hedge fund industry."
BISYS/Hemisphere expects to begin initial implementation of the h-EDGE platform during the third quarter of calendar year 2003.
Background Note: Hemisphere was acquired by BISYS in March 2002, and operates as a component of BISYS' Alternative Investment Services.
Eagle, a Mellon Financial CompanySM, is a leading provider of Web-based investment management software solutions, serving the needs of money managers, mutual funds, hedge funds, plan sponsors, insurance companies, banks, and corporate trusts. Eagle globally distributes Eagle PaceTM, Eagle Star(r), and PT-Plus. For more information, please visit www.eagleinvsys.com .
BISYS is the largest hedge fund administrator in Europe and the third largest globally, supporting approximately 200 clients and more than 400 hedge funds, fund of hedge funds, and other alternative investment products, representing more than US$50 billion in assets. BISYS' full service hedge fund administration solution includes fund accounting and valuation; investor and transfer agency services; director and corporate secretarial services; and legal, compliance, and taxation support. BISYS' alternative investment services are provided through its platforms in New York, Boston, Dublin, Bermuda, and London.