Edge Capital, an Asia-focused, event-driven hedge fund, has implemented Insight, a sophisticated portfolio management and accounting system developed by technology provider Tradar. Edge Capital was launched in mid-March and is managed by Simon Lloyd-Jones, who has more than twenty-two years’ experience trading Asian markets. The fund is based in London and Hong Kong and initiated trading primarily in Japanese, Australian and Hong Kong markets. The firm’s COO is Julian Miller.
Insight went live at Edge Capital on 18th March 2008, following a rapid implementation time of only seven working days. Using Insight, the fund is able to monitor its positions in real time, via the system’s live P&L reporting tool. As well as allowing Edge Capital to evaluate its portfolio at any time, Insight enables Edge Capital to produce a wide variety of NAV and position reports. By means of Insight’s prime broker export function, Edge Capital can also electronically upload trades to its prime broker. Insight automatically generates an exceptions report, highlighting any discrepancies between the prime broker’s and the fund’s records of trading activity. In the near future, Edge Capital intends to use the system to automate the transmission of trade files to its fund administrator.
Simon Lloyd-Jones, Manager, Edge Capital, commented:
“Insight has great functionality, it is also very intuitive and easy to use – we were able to use a lot of what Insight has to offer right from the start, which is rare for an IT system. Checking and amending trades is simple and you can get all the information you need straight away, which is important at the start-up stage as you are double-checking all the time. We also liked Insight because it sits locally, on the desktop, making it convenient to access. In contrast, competitor systems can be very clunky and slow, making something like changing a price or settlement date on a trade quite time-consuming. Most importantly, Insight frees you up enormously. You can manage all your position keeping requirements yourself and it takes away the requirement for a dedicated team or person in the back and middle office. For a start-up, it can make a big difference in terms of expenditure, allowing you to allocate resources elsewhere.”
Mr Lloyd-Jones added:
“Tradar’s global support is absolutely fantastic. I haven’t experienced this level of support before. It is quite exceptional. It doesn’t matter which office you ring, Hong Kong, London, the US, they all know what’s going on. The WebEx support (which allows users to share what is on their computer desktop, over the web, with Tradar support analysts) is particularly good and competitors would struggle to provide a service like this.”
Tony Swei, CEO, Tradar, commented:
“Insight makes an ideal choice for the start-up fund. It is cost-effective, easy to use and reduces the need for a lot of manpower in the middle and back office. As Edge Capital has found, the system creates important time and resource savings, cutting down administrative effort and leaving traders free to focus on what is most important to them, that is, trading.”