Olympia Capital (Ireland), a Dublin-based specialist administrator servicing almost USD10bn in fund assets, has licensed Comada's M•A•T•share software for use within its fund of hedge funds administration business.
M•A•T•share is available as a fully supported software package that can be internally or externally hosted. It can be used to drive and manage a comprehensive range of functions within a typical fund of hedge fund manager or service provider, including portfolio monitoring, trade confirmation and process flow, liquidity management, cash flow, performance measurement and a document library, all with full data integration.
M•A•T•share can also help with the effective communication of transaction data between administrators, custodians, and fund managers. For example, it can procure an accurate cash-flow picture without reversion to spreadsheet mechanisms.
'In this high touch area of the fund services business, a generic product simply will not do,' says John Walley, chief executive of Olympia Capital in Dublin. 'We chose M•A•T•share because it is a specialist product, designed for a highly specialised area of the hedge fund investment business. It helps us to fully leverage our existing activities while avoiding the creation of operational silos that typically occur when more generic software modules are employed.'
The choice of M•A•T•share was driven by its applicability to Olympia's established culture of highly personalised administration for funds of hedge funds clients. 'Funds of hedge funds are the fastest growing area of the hedge funds business,' says Rupert Vaughan Williams, co-founder of M•A•T•share developer Comada.
'Service providers to these funds have found that as their clients grow considerably larger, they are seeking operational efficiencies that can only be scalable if they make use of robust and tailored technology solutions.'
Dave Shastri, co-founder of Comada, adds: 'We are delighted to add Olympia as a client which, as a fund administrator, demonstrates the breadth of application to funds of funds structures that M•A•T• share can achieve.'
M•A•T•share, the first of a series of software packages to be released by Comada, is designed to be used internally by funds of hedge funds and other providers of multi-manager products such as private banks and family offices. It can be linked to the fund's custodian and administrator to provide efficient real-time processing of data that can then be viewed and used internally by multiple users.
It acts as a central platform for the processing of trades within a fund of hedge funds operation, as well as keeping track of data about underlying funds, including the management of paper portfolios, and the storage of documents relating to those funds. Managers can also handle their cash flow and create valuations for their portfolios at a touch of a button, providing them with powerful portfolio tracking and reporting capabilities.
Olympia Capital and its affiliates have provided administration services for hedge funds, funds of hedge funds and private equity funds since 1990 through offices in Bermuda, Dublin, Halifax, New York and Toronto. The firm services alternative asset classes ranging from more traditional equity hedge funds to more esoteric fixed income, multi-strategy, derivatives and commodity funds in both onshore and offshore structures.