SunGard today announced that it was named one of the three Top Technology Firms for Portfolio Management and Accounting systems in Institutional Investorâs 2006 Alpha Awards, Alpha magazineâs second annual ranking of the world's top hedge fund service providers. SunGard software solutions for alternatives accounting includes InvestOne Enterprise for investment accounting and InvesTier for investor accounting. Over 900 hedge funds with $200 billion in assets are accounted for on these two platforms. SunGard software for portfolio management includes FRONT ARENA, a leading cross-asset trading platform.
Alpha Awards were also given to Top Firms By Aspect of Service. In the Administration category of Fund-of-Hedge-Funds Services, two of the top five firms in this category utilize SunGardâs InvesTier to help them deliver timely and accurate investor accounting and reporting services to their clients.
In addition, Alpha asked its Hedge Fund 100, the publicationâs list of the worldâs biggest single-manager hedge fund firms, to vote for their Favorite Firms in multiple categories. In the Administration category, one of the top five administrators uses InvesTier and InvestOne Enterprise.
âThis year Alpha added portfolio management and accounting vendors to its survey, recognizing the category as one of four areas vital to the long-term success of any hedge fund,â said Doug
Morgan, president of SunGardâs investment systems business. âWe are pleased to be recognized as a top provider and we congratulate our administrator clients on their awards.â
âWe have long provided fund administrators with the tools to help automate and simplify the complex accounting associated with both traditional and alternative investments, helping empower them to provide top-notch service,â said Mr. Morgan. âThis Alpha Award is particularly gratifying in that the hedge fund community is recognizing our ability to address its own investment processing requirements. We are seeing more and more hedge funds adopt InvesTier as their own in-house or ASP investor accounting solutionâwhether to maintain their own general ledger, conduct shadow accounting, or simply produce their own reports.â
âAs the alternative investments industry continues its rapid growth in terms of assets managed, number of players and complexity and breadth of instruments traded, it is increasingly important to have the right technology and services to support hedge fund operations,â said Gareth Quinn, managing director of alternative investments for SunGardâs Enterprise Solutions group. âHedge fund managers understand that SunGard is a unique partner, capable of delivering a range of technology solutions that can scale and adapt to their evolving needs.â