Hedge fund technology firm HedgeServ has selected RR Donnelley’s ArcReporting application for creating its clients’ financial reports and statements.
An independent global fund administrator with about $300 billion in assets under management, HedgeServ will use the application for importing data and automatically producing complete alternative fund financial statements.
ArcReporting is designed to manage and simplify fund reporting, offering data management capabilities, and producing statements in various publishing formats.
The application is part of the FundSuiteArc, an online self-service content management platform that stores and manages information on a central repository, allowing regulatory and compliance documents to be easily accessed, edited and rendered.
Justin Nadler, co-founder and president of HedgeServ, commented: "We now have a fully mapped and automated template for creating fund financial statements, with integrated proofing tools that allow us to cross-check the various data sources.”
“This improves the accuracy and efficiency of the financial statement production and review process internally for HedgeServ, for our clients and the funds auditors."
Marcus Malley, managing director of HedgeServ and head of financial reporting, said: "This is a major step forward for us in terms of efficiency. This fully automated financial statement reporting solution is designed to meet the specific requirements of alternative funds and will continue to help us deliver exceptional service to clients."
Eric Johnson, senior vice president for Global Investment Markets at RR Donnelley, added: "Our solution is designed to be effective for all fund structures including mutual funds and hedge funds, across multiple domiciles. It leverages technology to provide intuitive financial reporting controls and mitigates the risks associated with producing financial statements."
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