Total Hedge Fund and Fund of Funds Assets Processed to Over $200 Billion
Hinsdale, IL â March 7, 2006 â SunGard today announced that InvestOne Enterprise and InvesTier, SunGardâs fund accounting and investor accounting solutions, have recently signed nine new customers spanning three continents - Asia, Europe and North America - demonstrating continued strong global demand for SunGardâs hedge fund accounting solutions.
âOver $200 billion in assets from more than 900 hedge funds and funds of funds are now processed on SunGardâs hedge fund accounting platforms. Hedge fund managers and administrators are increasingly recognizing the functional richness of InvestOne Enterprise and InvesTier and SunGardâs commitment to the ongoing enhancement of these solutions in response to dynamic industry changes. Our track record of timely and successful installations has helped our customers to maintain their necessary focus on growing their businesses and maintaining their competitive positions,â said Doug Morgan, president of investment systems, SunGard.
InvestOne Enterprise holds a leadership position within the global investment accounting segment, processing diverse assets across an array of fund types including hedge funds, pension funds, mutual funds, and specialized funds. In June of 2005, SunGard announced the re-branding of the product, previously called INVEST ONE, to reflect significant functional and technical enhancements being delivered as part of a multi-year development program launched in 2003. The product has also been adapted for the processing of alternative investments through a broad development effort which has addressed areas such as strategy reporting, additional derivatives functionality, and expanded reporting. Today, InvestOne is used by hedge fund managers and administrators alike for portfolio accounting and NAV reporting purposes.
Integrated with InvestOne Enterprise as part of SunGardâs HedgePower platform, InvesTier supports the investor accounting and reporting needs of the alternative investment industry and serves customers ranging from leading global third-party administrators, domestic and off-shore hedge funds, funds of funds and other vehicles in North America, Europe and Asia. Recent development has enhanced product scalability in line with the forecasted growth of the highest volume processors in the industry. In 2006, SunGard will move to strengthen the productâs position in Europe and offshore by completing development to meet the requirements for performance fee equalization.