In asset driven organisations, such as hedge fund and private equity firms, efficient and productive operations are critical, both on a daily basis and over time.
This year’s winner for global shadow accounting firm, Viteos, understands alternatives operations in depth. As a result, many of the world’s most complex managers rely on the firm’s expertise and technology for a number of services including trade support; reconciliation; collateral management; regulatory reporting; systems implementation; and shadow accounting.
As managers broaden their complex assets, Viteos has vast experience in deploying advanced accounting technology that addresses operational concerns brought about by these assets.
Shankar Iyer (pictured), CEO at Viteos says: “The automation and STP approach unburdens firms’ teams so they can focus on investing. It is primarily through this unique combination of accounting expertise and technology that the complex operational needs for timely, accurate, and reliable reporting are confidently fulfilled.
“It is this ability to deliver and to provide unparalleled client service that makes Viteos the leader in middle office operations worldwide.”
After being acquired by PPC in 2017, last year saw Viteos expand its offering. The firm with close to USD400 billion under administration has gained traction in private funds through private debt (USD40 billion under administration) and is focused on expanding its private equity fund administration client base.
Viteos also continued to deliver robust Treasury solutions for its hedge fund clients, bringing superior expertise and efficiency to cash management, lending, borrowing, and broker positions.
Looking forward, Iyer explains Viteos is consistent in its commitment to innovation. “The firm is anticipatory, showing clients where new ideas can take their operations. Our technology is never legacy, and we continue to advance the equation around data and interoperability in response to complexity,” he says.
The firm has a robust research approach to marketplace developments which it translates into offerings to both current and emerging targets. Viteos Innovation Lab is creating Blockchain-based platforms to create an enhanced business model that can replace current methodologies.
Iyer says: “We are working on two business areas where consortium-based platforms will bring the benefits of transparency, trust, disintermediation and self service to our client community. Further, we are expert in AI, robotics, and machine learning, using our innovation lab to continue to build new approaches, products, and services, such as deploying dashboards can deliver actionable insights.”
He expects outsourcing to become more important going forward due to the exponential increase in complexity of investment operations, driven by exotic instruments, intricate asset accumulation structures and jurisdictional requirements managers must handle to remain competitive.
Iyer says winning this award is especially significant as the winners are selected by Hedgeweek’s readership across the entire scope of professionals in the hedge fund space.
“The recognition that we remain the Best Global Shadow Accounting Firm is a testament to our commitment to provide unparalleled timely, accurate, and reliable services, our dedication and commitment affords us a leadership position.
When many believed shadow-accounting was a flash in the pan, we kept true to the niche need, entering the top ten of administrators for the first time in 2018. We are grateful for the confidence our clients have placed in us, as this recognition comes from peer votes,” Iyer concludes.
