London-based Vertex Capital Management has migrated its Vertex Evolution Ucits fund to Point Nine’s Circle.2 cloud-based middle and back office s
London-based Vertex Capital Management has migrated its Vertex Evolution Ucits fund to Point Nine’s Circle.2 cloud-based middle and back office services platform for hedge funds. Circle.2 provides live and cloud-based trade reconciliation and settlements for managers, enabling them to view key data points including counterparty exposures and settlement reports in real time. Phillipa McLune, Head of Sales at Point Nine said that Vertex were up and running on Circle “within three weeks of our initial contact”, adding: “As with all clients, Vertex will be upgraded to the latest version of our Circle platform with no cost to them, which is one of the benefits of our ‘software as a service’ (SaaS) web-delivered infrastructure.” Carl Mauritzon, Vertex Founder and CIO, said that operations infrastructure was one of the firm’s “biggest worries” prior to launching due to limited resources and that they didn’t want to hire dedicated staff. “We selected Point Nine because they provide a fully outsourced and cost effective technology platform as well as experience in supporting new managers,” commented Mauritzon.