Caledonian has clients throughout Europe and North America investing in a myriad of currencies and instruments, often through multiple brokers; they needed an accounting system that could handle the complexities of global hedge funds on a 24/7 basis. Caledonian turned to GenevaÂ®, which allows for comprehensive instrument coverage and true multi-currency processing, and streamlines accurate reconciliation between fund managers and their brokers.
Global hedge funds operate in many currencies and their strategies also involve a wide variety of equity and fixed-income instruments, as well as hedging with derivatives. GenevaÂ® supports a broad range of securities with comprehensive reference data, specialized transaction types, industry-standard accounting calculations and workflow automation that streamlines the management of complex instruments.
âWe chose GenevaÂ® because it is considered to be the best accounting system for the hedge fund market that we wanted to serve,â says Gordon Wilson, Managing Director of Caledonianâs Isle of Man office. âUsed by some of the largest firms in the industry, GenevaÂ® is a very robust system in terms of the types of securities that our clients trade, and it allows us to handle complex accounts for them.â
Continued Wilson, âBefore GenevaÂ®, accounting for different currencies within the same portfolio was a complex chore requiring a patchwork of systems and manual data transfer, which slowed the process and increased the risk of error. Now, GenevaÂ® makes real-time multi-currency processing on a single platform a reality.â
Caledonian highlights its use of GenevaÂ® on its website as a means of instilling confidence in clients and prospects. âAdventÂ® is a big selling tool for us as a business because thereâs a certain credibility that comes with using AdventÂ® software in this industry,â concluded Wilson.
âWeâre pleased that Caledonian is growing their business using the many benefits provided by the award winning GenevaÂ® platform.â said Hakan Valberg, General Manager, Advent Software EMEA. âWe have a strong partnership with Caledonian and will continue to work with them to help meet the needs of their demanding and sophisticated clientele in this fast-moving environment.â