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.

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