SunGard expands ASP strategy for hedge funds into Europe

Delivered on an ASP basis, the solution suite integrates InvesTier and INVEST ONE.  InvesTier is a flexible investor accounting, general ledger, allocation and reporting solution for onshore and offshore hedge funds, funds-of-funds, and other managed investments.  INVEST ONE is a global, real-time, straight-through processing investment accounting solution that processes over USD 8 trillion in assets including pension funds, mutual funds and hedge funds.

Both InvesTier and INVEST ONE are available stand-alone or as one integrated solution, branded as HedgePower.  HedgePower also incorporates functionality from other SunGard solutions – including Reech RiskHedge for risk management and Reech FastVal for independent portfolio valuations – to form an end-to-end solution that helps customers manage operational risk and react to changing conditions and regulatory demands.

Carol Kaufman, president of SunGard’s InvesTier operating unit, said: "InvesTier is a proven, robust system that was introduced in the US two years ago. It has been embraced by some of the largest managers and third party administrators in the US, and I am confident that European managers will recognize that InvesTier is an essential hedge fund and fund of funds investor accounting and reporting package."

Jack McArdle, group chief executive officer of SunGard Investment Management Systems, said:  "I’m pleased to introduce InvesTier and HedgePower to the European alternative investment industry. These solutions help alternative investment firms manage the risk and regulatory challenges unique to their industry, which is why we’ve signed more than 30 new InvesTier customers in
North America over the last two years."

McArdle said: "Our solutions equally meet the needs of European managers.  In addition, HedgePower incorporates INVEST ONE today, and will next expand to
include both GP3 and our recently acquired V3 investment accounting solution.  Because HedgePower is offered on an ASP basis, our customers get the best of both worlds: end-to-end capabilities in one powerful system, and a cost-effective, feature-rich solution hosted on SunGard’s resilient, Web-hosted infrastructure."

Background Note: SunGard Investment Management Systems provides in-house and ASP solutions to the buy-side investment management market for trading, portfolio management, compliance, investment accounting, investor accounting, private banking, and performance measurement and attribution applications.  These products support comprehensive straight-through processing from trade initiation, to execution using client-selected brokers, through accounting and client reporting.  SunGard solutions support the complex needs of many of the largest financial service firms in the world representing in aggregate over USD 8 trillion in assets processed daily by these solutions.

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