Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that PI Funds, which runs an emerging market macro fund, has selected award-winning Linedata Beauchamp as its portfolio management solution. PI Funds will use Linedata Hosting to run the software.
As a highly successful fund, which has delivered positive returns each year since inception, PI Funds attracts much interest from investors. In order to cope with increased inflows and the resulting higher levels of transactions, and to improve automation, PI Funds decided to upgrade their systems. A rigorous search was conducted by an internal team with representation from front, middle and back office and IT. Four solutions were shortlisted and Linedata Beauchamp prevailed. Ronen Bitman, PI Funds’ Director of IT, commented: “We selected Linedata because of the depth and longevity of market experience in alternative investments and the truly international client base, including peer organisations, which meant we were confident that Linedata could accommodate our needs. Additional factors were the real-time on-line support offered and the openness of Linedata Beauchamp, which means interfacing with our other service providers is relatively simple.”
PI Funds sees a number of advantages in adopting Linedata Beauchamp. In the immediate short term, process-focused workload for the middle and back office teams will go down as automation comes on line, especially in respect of interfaces with PI Funds’ administrators and prime brokers. This will allow their highly-trained staff to focus their energies on exception management and on areas of expansion. There will also be front office benefits as traders’ administrative work will be reduced, freeing up more time for trading. Maintaining a single source of all data will eliminate duplications and increase accuracy. Longer term, the scalability and resilience of Linedata Beauchamp will aid PI Funds’ growth.
“We are delighted that PI Funds has selected Linedata Beauchamp to manage their portfolio,” said Adrian Andrews, Managing Director of Linedata Northern Europe. “Increasingly, investors look not only at a fund’s performance but also at its processes and systems. Linedata Beauchamp is proven in the markets and recognized by investors as a robust, best-of-breed portfolio management solution which can handle a broad range of instruments and the most complex of portfolios. By choosing a hosted version of the software, PI Funds will enjoy the benefits of our state-of-the-art data centers around the world, the latest software versions and full disaster recovery.”