Imagine Software, a leading provider of real-time portfolio and risk management solutions worldwide, today announced Sydney-based Prodigal selected the company’s award-winning Derivatives.com service for its new cross-asset risk management tool.
Established in 2005, Prodigal is an Asian hedge fund with the bulk of its portfolio in convertible bonds and equities, credit contracts, options, and FX instruments. Early in 2008, Prodigal began searching for an affordable way to streamline its operational procedures to enable efficient management of its Absolute Fund and its new Equity Relative Value Fund.
“We examined relevant offerings from leading software vendors to see who could fulfill all of the items on our wish list,” said Prodigal principal and portfolio manager Mike Munns. “The ideal solution would offer cross-asset coverage, real-time operation, and generate risk exposure results flexibly. It also needed to be an industry-proven product.”
Prodigal’s due diligence process quickly revealed several key attributes that separated Imagine from competitors. According to Munns, “Imagine’s breadth of cross-asset support was impressive, as was its depth of modeling support, drilldown for viewing exposures and P&L, and very flexible risk reporting capabilities.”
Other important features weighed in Imagine’s favor. “The fact that users can change the calculations behind the system’s real-time displays—or add entirely new ones without programmer support—is very attractive,” said Munns. “Ultimately, however, our decision to take on Imagine was based upon its overall package of affordable, integrated capabilities, included data management services, and solid real-time performance.” He added: “To run a portfolio effectively today, you need confidence in your ability to handle volatility. With the functionality and performance Derivatives.com provides, we have it.”
Yvonne Dahl, Director of Sales and Marketing at Imagine, said: “Prodigal is a great example of how companies can quickly improve their competitiveness by utilizing modern, cost-effective solutions that deliver the functionality they need at an attractive price point. Prodigal is now well positioned to thrive in current and future market conditions, and we look forward to supporting its future growth.”