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Asset Value Investors In-Sources with Paladyne Suite
By: PR Newswire
Jan. 24, 2013 03:00 AM
-- Gains Greater Transparency, Improved Reporting to Investors and Controls on Portfolio
LAKE SUCCESS, New York, Jan. 24, 2013 /PRNewswire/ -- Paladyne Systems®, Inc., a Broadridge Financial Solutions, company (NYSE: BR) and leading provider of next generation investment management solutions, today announced that long-only traditional asset management firm Asset Value Investors (AVI) has selected and implemented Paladyne to bring greater ownership and control to its internal operations.
London-based AVI runs a range of nine funds and managed accounts with assets under management of £1.3 billion ($2.1 billion). The firm implemented the Paladyne Suite, including integration with OMGEO CTM and FXALL, to meet its bespoke reporting and compliance requirements. AVI implemented Paladyne Portfolio Master for trading, pre-/post-trade compliance portfolio management and NAV generation, and Paladyne Analytics Master for data aggregation, warehousing, reporting and reconciliation, all fully hosted in Paladyne's SSAE 16-certified ASP platform. In addition, Paladyne built a customized FX calculation solution for AVI.
In the first phase of the implementation, AVI was able to take in-house 8 years of data from all its fund vehicles, which had been previously outsourced to a third party, to facilitate customized reporting to investors and take greater ownership of their operations and portfolios. Paladyne Compliance Manager allowed the firm to systematically run reports and demonstrate to investors the greater controls around portfolio construction, and within the post-trade environment. Paladyne Analytics Master also allows AVI to provide very granular level reporting that can be tailored to specific investor requirements.
"Given our range of fund vehicles and investors, we needed to tailor information quite specifically for different communication channels. We felt if we owned that data and the systems, we could be far quicker in responding to changes both within the industry and within our own investor universe. With Paladyne, we can respond and adapt much more quickly than if we had to influence a third party provider that might not have the same priorities as AVI," said Kimmberly Lau, Company Director, AVI.
"We short-listed several vendors in this process, but Paladyne offered the key benefit to a one-stop shop for front- to back-office processing that will adapt itself to our short- and long-term needs. With this combination, Paladyne came out on top. Going forward, we are keen to utilize Paladyne to its fullest in order to make the trading lifecycle as efficient as possible, as well as maximize other functionality such as compliance, trade reporting, and system reconciliations. With Paladyne, our goal is to make AVI a truly robust, best-of-breed player and demonstrate to our investors the benefits of the transition we have undertaken. We were also very pleased with the responsiveness of the Paladyne team on all issues," said Jake Crowhurst, Head of Operations, AVI.
"As Paladyne builds out its offering to long-only asset managers, we are pleased to partner with AVI to complete their platform. The fundamental operational risks faced by hedge fund and long-only managers are the same across the board and the trade lifecycle. With AVI, Paladyne demonstrates an effective solution to meet the challenges facing the industry, and which works across all strategies, products and asset classes being utilized by today's investment managers," said Sameer Shalaby, President, Paladyne Systems.
About Paladyne Systems
Paladyne Systems, a Broadridge Company (NYSE:BR), is the leading provider of next generation investment management solutions. Paladyne offers its integrated front-, middle- and back-office platform, known as the Paladyne Suite, to hedge funds, asset managers, fund administrators and prime brokers. The modular Paladyne Suite includes order management, portfolio management, reference data management, data warehouse and custom reporting and reconciliation, and is complemented by the Paladyne Network, an integrated network of leading 3rd-party software and market data firms. The solution can be delivered onsite or via Paladyne's industry-leading application service provider solution, - SSAE 16-certified Paladyne ASP. Paladyne was established in 2005 and acquired by Broadridge in 2011 and now serves over 225 clients worldwide. The firm has approximately 180 employees and is headquartered in New York, with regional offices in New Jersey, London, Russia and Hong Kong.
For more information, please visit www.paladyne.com.
Broadridge is a technology Services Company focused on global capital markets. Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $4.5 trillion in fixed income and equity trades per day; and saves companies billions annually through its technology solutions.
For more information about Broadridge, please visit www.broadridge.com.
About Asset Value Investors
Asset Value Investors was established in 1985 to manage the assets of British Empire Securities & General Trust plc (British Empire), then a £6 million London listed investment company. A group of UK institutional and private US investors supported a 4 for 1 rights offering to enlarge British Empire to £30 million. British Empire is now capitalised at over £745 million.
AVI's other clients include CF Asset Value Investors Global Fund - a UK Open ended Investment company and AVI Value Fund - a US limited liability corporation; and funds managed for leading US endowments and foundations.
Funds under management total £1.3 billion ($2.1 billion)
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