Nine deals signed on three continents with major institutions bring total hedge fund and fund of funds assets processed to over $200 billion
SunGard (http://www.sungard.com) today announced that InvestOne Enterprise (http://sungard.com/investone) and InvesTier (http://www.sungard.com/Investier), SunGard's fund accounting and investor accounting solutions, have recently signed nine new customers spanning three continents - Asia, Europe and North America - demonstrating continued strong global demand for SunGard's hedge fund accounting solutions.
"Over $200 billion in assets from more than 900 hedge funds and funds of funds are now processed on SunGard's hedge fund accounting platforms. Hedge fund managers and administrators are increasingly recognising the functional richness of InvestOne Enterprise and InvesTier and SunGard's commitment to the ongoing enhancement of these solutions in response to dynamic industry changes. Our track record of timely and successful installations has helped our customers to maintain their necessary focus on growing their businesses and maintaining their competitive positions," said Doug Morgan, president of investment systems, SunGard.
InvestOne Enterprise holds a leadership position within the global investment accounting segment, processing diverse assets across an array of fund types including hedge funds, pension funds, mutual funds and specialised funds. In June of 2005, SunGard announced the re-branding of the product, previously called INVEST ONE, to reflect significant functional and technical enhancements being delivered as part of a multi-year development program launched in 2003. The product has also been adapted for the processing of alternative investments through a broad development effort which has addressed areas such as strategy reporting, additional derivatives functionality and expanded reporting. Today, InvestOne is used by hedge fund managers and administrators alike for portfolio accounting and NAV reporting purposes.
Integrated with InvestOne Enterprise as part of SunGard's HedgePower platform, InvesTier supports the investor accounting and reporting needs of the alternative investment industry and serves customers ranging from leading global third-party administrators, domestic and off-shore hedge funds, funds of funds and other vehicles in North America, Europe and Asia. Recent development has enhanced product scalability in line with the forecasted growth of the highest volume processors in the industry. In 2006, SunGard will move to strengthen the product's position in Europe and offshore by completing development to meet the requirements for performance fee equalisation.
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SunGard's InvestOne Enterprise is one of the industry's most trusted investment accounting solutions. Processing more than $10 trillion in assets, InvestOne Enterprise helps meet the needs of a range of financial institutions, including many of the world's largest banks and financial services companies.
A real-time, multicurrency system supporting straight-through processing, InvestOne Enterprise helps organisations account for virtually any kind of security held in nearly any kind of fund-from hedge funds and funds of funds to pension funds, mutual funds, bank commingled funds, offshore trusts, and more specialised funds.
InvesTier
An investor accounting and reporting solution for the alternative investment industry, InvesTier provides domestic and offshore hedge funds and funds of funds with partnership accounting, fee calculation, recording and allocation of gains and expenses, and equalisation accounting capabilities.
SunGard
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25 000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
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