The multi-year contract includes provisions for accounting, administration, transfer agency, compliance and financial reporting for the Thor Optima Fund Ltd. TAM, a New York-based alternative asset manager that specializes in short-term systematic trading strategies using advanced methods of quantitative analysis, currently manages around $220 million between offshore and domestic funds and managed accounts. TAM's trading program is aiming to achieve attractive absolute returns with low volatility and low to negative correlation to any major traditional, as well as broad hedge fund, indices. Thor Optima Fund Ltd. comes in two share classes, single and double leverage, and provides attractive weekly liquidity terms.
"Above all, we were looking for a top administrator with a proven track record and a strong technology platform," said Julia Barinova, Vice-President, Business Development, Thor Asset Management USA, LLC.
"SS&C is very technologically advanced and offered us strong and scalable trade processing infrastructure and systems, which is quite important in the facilitation of our high-frequency trading operations."
"We continually invest in our leading software platform so our Fund Services clients, like Thor Asset Management, don't have to," said Bill Stone, Chairman and CEO, SS&C. "We are delighted to play an important and strategic role in the development of TAM's business."
SS&C Fund Services provides fund administration services for hedge funds, fund of funds, and private equity firms, offering a full range of middle and back office services including fund valuation, administration, transfer agency, financial reporting and investor communications services.