Fri, Mar 27, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Citco Transparency Platform provides customized transparency solutions

Monday, November 08, 2010
Opalesque Industry Update - The Citco Transparency Platform, "CTP", provides its clients with high quality, tailored transparency risk reports and online products across its portfolio holdings.

CTP was initiated more than 18 months ago by Citco in response to the Industry’s demand for increased transparency and independent reporting. As the world’s largest financial service provider for Hedge Funds and Hedge Fund Investors, Citco responded to its network of clients to address their concerns about transparency.

"During 2009 we organized multiple workshops including a roundtable event during May at the offices of Unigestion in Geneva where both Hedge Funds and Hedge Fund Investors worked to find the best and most scalable solution for satisfying the transparency challenge" Gilbert Grosjean, Director of CTP. The outcome of this series of industry meetings was the creation of a tailored service for both Investors and Funds.

In the Single Manager Hedge Fund driven model, Citco contracts directly with Hedge Funds to provide standardized reporting on their behalf. Hedge Funds have understood the value in appointing Citco as their "Independent Transparency Provider."In doing so, Citco produces and distributes the chosen report set to all of the Hedge Fund’s investors. Report recipients can log on to www.citcotransparency.com to pull both current and historic Investment, Counterparty & Investment Guidelines Reporting in both graphical and data feed formats. In order to best serve the Investors, provisions are also made for Managers to make available their proprietary newsletters in a single location.

“Tremblant has been using CTP to provide independent transparency reporting to our investors since early 2010. This independence, along with the CTP web portal’s secure and convenient access, provides an important benefit to our investors. We have worked with Citco for many years across a number of services, and are pleased that they have added CTP to the offering.” – Jim Eckert, President & COO, Tremblant Capital Group

For Institutional Investors needing further reporting, we can alternatively contract with the Investors (Hedge Fund Allocators, Pension Funds, and Endowments). In this role we collect position level data from all their hedge fund investments, from an independent source (administrator) for reporting and analytical purposes. The standard report package is composed of Monthly Attribution/ Counterparty Reports per single manager as well as aggregated reporting on a weighted average of their consolidated holdings. For more sophisticated investors, CTP supplies Real Time Systems, depending on the frequency of information, allowing portfolio data analysis on your desk top, Risk Reporting (VAR and Stress Testing) and "What If" scenario solutions.

With the independent data collected from the underlying positions, CTP is able to produce aggregated reports Based on their CTP reports, investors are able to execute their allocations through Citco Bank, get financing with Citco Financial Products, “CFP”, and have their NAV published at a holding level by Citco Fund Services, “CFS”, all within the same Group, which is unique.

Citco is proud to announce that Blackstone Alternative Asset Management, “BAAM”, has chosen Citco as a provider for administration and custody services as well as to help create a solution for its independent transparency needs.

BAAM and CTP have worked together to take what CTP has developed and create a customized transparency solution that combines data aggregation with tailored data and risk reporting. CTP works directly with the participating hedge fund managers' independent administrators to collect the portfolio positions and aggregate the exposures according to an agreed-upon risk aggregation methodology. BAAM will have direct access to Citco's AExeo system, which will allow for a detailed review of participating managers' positions as well as the ability to parse the information in a number of different ways. BAAM will also have the ability to integrate CTP's technology system with its existing proprietary technology and risk management platform.

"Transparency is an issue that investors have been trying to address for quite some time. We are happy to be working with Citco in this area to help develop a highly customized and flexible solution that is both a complement to our existing technology and risk processes, as well as a benefit for our investment advisory business." – Scott Soussa, Managing Director, Head of Due Diligence, Blackstone Alternative Asset Management.

For more information about Citco Transparency Platform please contact Gilbert Grosjean at GGrosjean@citco.com

(press release)

About Citco Transparency Platform
Citco Transparency Platform (CTP) was born out of the market turmoil of 2008 to provide transparency and reporting for Hedge Fund Investors. The independence and standardization of the platform make it a viable alternative to Managed Accounts.

Following extensive collaboration with market participants, CTP has created a suite of services and products to cater for the industry's needs.

About Citco
The Citco Group of Companies is a worldwide group of independent financial service providers serving the world’s elite hedge funds, private equity and real estate firms, institutional banks, Global 1000 companies and high net worth individuals.

Citco companies service these sectors around the world by offering hedge fund administration, transparency reporting, custody and fund trading, financial products and corporate and trust planning solutions. Corporate website: www.citco.com

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner