Asia Pacific Funds Upgrade Platforms
Growing complexity of business drives systems deployment decisions.
Demand for portfolio management technology in the Asia Pacific region is leading firms to implement more-advanced systems.
Boyer Allan Investment Management, a specialist manager of Asian equity absolute return funds, has replaced its legacy technology vendor with the Paladyne Suite, an investment management platform offered by Broadridge’s Paladyne Systems division.
Boyer Allan, which has offices in Hong Kong and London, required a solution that addressed the growing complexity of its business.
The firm currently manages eight funds focused on Asia Pacific for institutional clients requiring support from multiple prime brokers, four fund administrators and a connection with multiple trade end execution systems including Omgeo, Bloomberg Port and Tora.
“A lot of other vendor software solutions are primarily geared for U.S. or European hedge funds and they are not willing to put the required resources forward to make their software compatible for their Asian client base,” Guy Commaille, chief operating officer at Boyer Allan Investment Management, told Markets Media.
One of the objectives for switching over to Paladyne was the need to link with multiple systems and business partners.
“Our business had evolved and had become more complex. especially post-2008 in the multi-prime world,” said Commaille. “We needed to find a PMS solution that had institutional qualities that could grow seamlessly with our business demands. We currently run eight funds, three prime brokers and four fund administrators and this is only going to become more complex over time.”
The company has been able to automate many tasks, and the flexibility of the system allowed it to instantly implement data/analysis for its portfolios in real-time.
“We now have performance attribution models which offer greater insight into actual performance than before,” said Commaille. “We also intend importing our entire trade history onto the platform which means bringing in hundreds of thousands of trades going back to 1998.”
“It is also worth noting that their Asian Support Desk is very strong, and it is very important for us being in Asia to have a strong support desk working in the same time zone and in our case only being a couple of buildings away,” he said.
Paladyne, which operates within Broadridge’s Securities Processing Solutions division, has allowed Broadridge to service the buy-side as well as extend components of Paladyne’s product offering into its sell-side relationships.
“Paladyne will provide additional growth runway and client diversification for the securities processing division,” Bennett Egeth, senior vice president at Broadridge Securities Processing Solutions, told Markets Media. “The buy side represents a very large market segment that is almost equal to the sell side.”
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