New York
08 January 2016
Reporter: Stephanie Palmer

$2.3 billion hedge fund adopts Broadridge technology

Prophet Capital Asset Management, a $2.3 billion structured credit hedge fund, has adopted Broadridge’s trading, portfolio management and operating solutions platform.

The technology is designed to help institutionalise the pension fund’s infrastructure and to improve operational efficiency through placing order management, portfolio accounting and risk management on a single platform, which also supports trading of complex securities.

Kurt Rechner, COO of Prophet Capital Asset Management, highlighted that an increasingly sophisticated customer base requires scalable and high-quality infrastructure.

He said: “The Broadridge solution offered out-of-the-box functionality as well as the option for customisation to support trading of complex securities – which was key for us – all through a single platform.”

Bennett Egeth, president of Broadridge Investment Management Solutions, said: “By managing complexity, we allow clients to capture an order and automatically reconcile trade files to prime brokers, as well as provide a daily [net asset value] to their administrator. This enables them to focus on differentiating activities like alpha generation and capital raising.”

“Because we cover virtually every asset class globally, our clients can consolidate multiple platforms onto a single product suite.”

Broadridge Investment Management Solutions now supports 225 clients around the world, including hedge funds, asset managers, family offices, fund administrators and prime brokers.

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
OFI AM and SETL become shareholders of IZNES
23 February 2018 | Paris | Reporter: Jenna Lomax
OFI AM and SETL have been joined as shareholders of IZNES by five asset management companies
Klesia Finances goes live with NeoXam’s Density solution
23 February 2018 | Paris | Reporter: Jenna Lomax
According to Klesia, Density will assist it in facing the current French and European regulatory landscape
EBA Clearing’s RT1 hits 500,000-transaction-mark
23 February 2018 | London | Reporter: Jenna Lomax
The RT1 system passed the transaction milestone on 19 February
Liz Daniels joins FCA
23 February 2018 | London | Reporter: Becky Butcher
The Financial Conduct Authority has appointed Liz Daniels as policy advisor
Gen II exceeds $175 billion in assets under administration
23 February 2018 | New York | Reporter: Becky Butcher
Gen II Fund Services has revealed that its assets under administration have exceeded $175 billion
SANNE hires Hannah Correll Jaeger
22 February 2018 | New York | Reporter: Becky Butcher
SANNE has appointed Hannah Correll Jaeger as head of client relationship management for the Americas to support the company’s growth
Benelux trio set to strengthen collaboration on blockchain
22 February 2018 | Brussels | Reporter: Becky Butcher
B-Hive, the Luxembourg House of Financial Technology and the Dutch Blockchain Coalition have signed a memorandum of understanding to strengthen further collaboration in blockchain within the Benelux region
More news