Thu, Apr 17, 2014
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   |   
Banner
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. Opalesque Exclusive: European stock-picking fund up 19% YTD, bets on small caps’ high cash level[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Here is a European long/short equity fund that has been beating the odds since its 2008 inception by employing its own investment model, frequent company visits

  2. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  3. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  4. Opalesque TV: First Trust Advisors launches liquid alternatives platform[more]

    Bailey McCann, Opalesque New York: First Trust Advisors is launching a new liquid alternatives platform aimed at building on the companies existing alternative ETFs offering by adding hedged mutual funds. Senior Portfolio Managers Rob Guttschow and John Gambla recently sat down in an

  5. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo