SunGard today announced that ARX Investment Management, LP is now using IMpower to supplement outsourced services provided by its third-party administrator (TPA). In addition to providing ARX with portfolio management capabilities on an ASP (application service provider) basis, IMpower offers the firm flexible, Web-based tools for investment reporting and performance measurement.
ARX manages a $1.1 billion hedge fund that invests in global fixed income, equity, option, swap, convertible, and other complex securities; a third-party administrator provides all accounting and back-office services. Through a secure interface provided by SunGard, IMpower extracts daily portfolio and transaction data from the administratorâs systems and helps ARX to create its own customized, on-demand reports without any programming. In addition, IMpower automatically creates new security records based on the data to help simplify ARXâs operational workflow.
âWith timely, in-house access to critical portfolio and investment information and a flexible reporting tool, we can now retrieve complex data items, when we need them, in the exact format we require for analysis,â said Thomas Stamatelos, chief financial officer at ARX Investment Management. âDerivative instruments can be difficult to value at any given time. SunGardâs IMpower team helped us create sophisticated reports that appropriately aggregate and match holdings with financing to produce multiple views of our P&L as well as cash forecasts. As a result, we have better insight into our fundâs profitability and cash position status.â
âThird-party administrators provide critical services and information to hedge fund managers. Using IMpowerâs open technology, ARX is able to leverage the data its TPA generates--and without the extensive programming ARXâs previous internal report-building process required,â said Doug Morgan, president of SunGardâs investment systems business unit. âWe are pleased to be able to help ARX and other hedge fund managers run their businesses more effectively. With SunGardâs understanding of their sophisticated information and functionality requirements, we are able to provide hedge fund managers, funds-of-funds, and third party administrators with a powerful suite of front-to-back-office alternative investment solutions.â