Hong Kong Fund Benefits from Cloud-based Real-time Portfolio and Risk Management Service
Imagine Software today announced that CSOP Asset Management has implemented its award-winning, cloud-based ASP solution to support the risk management requirements of its Greater China Absolute Return fund, a long/short equity and derivatives fund.
Commenting on the fund’s selection of Imagine, CSOP managing director Steve Chang said, “When we made the decision to transition from spreadsheets, Imagine was the first system that came to mind based on my previous experience with it while at Dresdner Kleinwort. As a significantly more powerful solution, I knew Imagine could easily handle the increasing complexity of our portfolio—which includes equities, options, futures, swaps and fixed income—while providing greatly improved performance attribution.
“After a comprehensive review of possible vendor solutions,” Chang continued, “it was clear that none could match Imagine’s combination of strong asset class support for derivatives and overall risk and cash management capabilities, delivered as a flexible cloud-based service. It really hit the mark in terms of our business needs.”
CSOP required a system that could provide real-time data and analytics, with robust risk management functionality. Completely integrated with the fund’s execution management system, prime brokers, and fund administrators, Imagine now enables CSOP to tightly monitor and manage real-time P&L, risk, and FX exposure. The system provides the firm with comprehensive stress testing, scenario analysis, compliance checking, real-time Greeks, and flexible reporting capabilities.
“Imagine’s capacity to deliver such powerful functionality in a virtually maintenance-free system,” Chang said, “represents a very compelling argument for potential clients, as it did for us. The use of an extremely reliable and easily scalable cloud-based system will facilitate our future business plans. We intend to expand use of Imagine to include our mainland China operations.”
Dr. Lance Smith, CEO of Imagine Software, commented, “We are pleased to welcome CSOP to our family of clients. As the first overseas investment arm of China Southern Fund, the second largest fund company in China, CSOP is an important client and we are honored by their selection of Imagine. Our software provides a solid foundation upon which CSOP can establish a track record of superior investment decision making, and we are delighted to be a partner in their long-term success.”