Caledonian Global Fund Services is using Geneva - Advent Software's portfolio management and fund accounting solution - to support its global operations. Based on the Isle of Man, Caledonian provides administrative and accounting services to the alternative investment industry.
Caledonian has clients throughout Europe and North America investing in a myriad of currencies and instruments, often through multiple brokers; and the firm needed an accounting system that could handle the complexities of global hedge funds on a 24/7 basis. Caledonian turned to Geneva because it allows for comprehensive instrument coverage and true multi-currency processing, and streamlines accurate reconciliation between fund managers and their brokers.
Global hedge funds operate in many currencies and their strategies also involve a wide variety of equity and fixed-income instruments, as well as hedging with derivatives. Geneva supports a broad range of securities with comprehensive reference data, specialized transaction types, industry-standard accounting calculations and workflow automation that streamlines the management of complex instruments.
'We chose Geneva because it is considered to be the best accounting system for the hedge fund market that we wanted to serve,' says Gordon Wilson, Managing Director of Caledonian's Isle of Man office. 'Used by some of the largest firms in the industry, Geneva is a very robust system in terms of the types of securities that our clients trade, and it allows us to handle complex accounts for them.'