Paladyne Systems, a solutions provider to the hedge fund industry, has licensed its Paladyne Analytics Master reporting, analysis and reconciliation platform to Columbus Avenue Consulting, a provider of administrative services to hedge funds and funds of hedge funds.
Columbus Avenue will host Analytics Master directly and provide its clients with web-based access to Paladyne's custom reporting, data analysis and automated reconciliation software. Paladyne has fully integrated Analytics Master with Columbus Avenue's accounting engine, SunGard's Visual Portfolio Manager.
Columbus Avenue is a fund administrator dedicated exclusively to the hedge fund industry with more than USD6bn in assets under administration. Its onshore and offshore administrative services to hedge fund and fund of hedge fund clients include daily NAV calculations, traditional portfolio accounting, tax and operational consulting, accurate and timely reporting, and investor services.
The Analytics Master solution provides fund administrators with a dynamic reporting and data warehouse platform accessible by both the administrator and its clients. Administrators may use the platform internally for report creation and distribution as well as providing their own clients with web-based access to the same reporting and data analysis solution.
Analytics Master is used by administrators as an automated reconciliation tool. Paladyne's data warehouse is used to reconcile external data sources such as prime broker and counterparty information with the administrators' internal accounting system.
The solution also allows fund administrators to reconcile their internal accounting system directly with a client's own in-house version of VPM or Advent Geneva. The automatic reconciliation of the administrators' and client's books and records on a daily basis significantly reduces month-end processing time for the administrator and ensures data consistency with the client.
'We explored several reporting and data analysis tools to offer our clients, and chose Paladyne Analytics Master for its broad functionality and its seamless integration with our portfolio accounting and back-office solution, Visual Portfolio Manager,' says Joe Holman, founder and managing partner of Columbus Avenue Consulting.
'Paladyne Analytics Master will provide our fund manager clients with direct access to their accounting and operational data, including NAV, P&L, performance, and transaction activity either on demand or on a daily basis.'
Paladyne Systems chief executive Sameer Shalaby says: 'We are excited to be providing Columbus Avenue with a unique technology offering that will help it expand and differentiate its fund administration services.
'In addition to providing Columbus Avenue's clients with more flexible and timely reporting tools, Paladyne Analytics Master will significantly reduce reporting costs and improve overall data integrity.'
The full Paladyne suite, which includes Portfolio Master, Price Master and Security Master as well as Paladyne Analytics Master, is available either as a fully hosted ASP solution or as a local installation.
Paladyne Systems develops and distributes technology designed to streamline hedge fund operations while providing business efficiency and cost savings. Its fully-hosted Paladyne suite technology platform is an integrated set of applications including order management, portfolio management, general ledger, global security master, pricing and valuation, data warehousing, and custom reporting.