FIPA is a multi-currency, multi-asset class (including derivatives) portfolio management and modeling system. Multiple funds with multiple benchmarks and models can be managed at the same time using switches, barbells, asset allocations, duration and currency exposure.
"Special attention has been given to ensure that accurate price and risk numbers for all security types are calculated. This is especially important for organisations looking for a system that is built specifically for fixed interest rather than as an add-on to an equity system," said Jem Tugwell, CAfIT's managing director. Adding further, "A user can manage multiple funds and benchmarks at the same time and go from the investment decision to implementation across these funds in seconds."
FIPA allows extremely flexible portfolio viewing, coping with balanced funds as well as segregated fixed income funds. Users can select portions (buckets) of the fund to model. In this way they can, for example, work on the whole fund, or just one market, or just the long end of each market, etc. All of this is driven by the user and they can move from view to view exceptionally easily.
Having understood the funds current status versus their benchmarks, which are often composites of many benchmarks, the fund manager can quickly implement investment decisions across all of the funds.
FIPA is designed to be built into existing client applications. This allows clients to reuse their existing databases, staff skills and middle-tier technologies to deliver specialist fixed income tools to the fund managers in weeks rather than months. FIPA is built using industry standard Microsoft tools and technology such as COM/ActiveX and runs on most PC desktop operating systems such as Windows 2000, Windows NT and Windows 98.
CAfIT, based in Sunninghill, Berkshire, UK, develops specialist fixed income solutions for fund managers. CAfIT was founded in 1997 and is privately owned.