Fund services provider Maples Finance is using Geneva, Advent Software’s portfolio management and fund accounting solution, to capitalise on the growing demand for managed account administration services among institutional investors.
Geneva will serve as the firm's platform for servicing multiple managed accounts and managers on behalf of investors.
Maples Finance originally implemented Advent's Geneva to support its global fund administration business.
The technology enables Maples to expand its client base beyond hedge fund managers and service institutional investors directly.
"Hedge fund managed accounts can be quite complex in terms of security types, trade volume and fund structure," says Tyler Kim (pictured), chief information officer, Maples Finance. "A managed accounts platform needs to be able to handle a wide array of instruments, strategies and currencies. Geneva provides this and enables us to offer the consolidated reporting and position-level transparency that institutional investors are looking for from managed accounts."
"We're thrilled to see Maples Finance taking the lead in adapting Geneva to this new and growing market," says Chris Momsen, senior vice president and general manager, sales and marketing, Advent. "Maples has a long-standing reputation for excellence in client service and industry thought leadership, and Geneva is recognised as the gold standard for portfolio management in the alternative investment industry. That combination adds up to a very compelling value proposition for institutional investors' managed accounts."