Fri, Dec 19, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

ConvergEx enhances NorthPoint Platform for Mutual Funds using alternative strategies

Tuesday, May 03, 2011

Doug Nelson
ConvergEx Group, a leading technology company, announced that its NorthPoint prime services and technologies business has enhanced its offering for traditional mutual funds that are looking to employ alternative investments, including trading in shorts, options and futures as part of their overall strategy. NorthPoint has seen a significant uptick in demand for these kinds of solutions and these latest enhancements are designed to meet the needs of this growing customer segment.

The NorthPoint platform now offers a solution that leverages several ConvergEx platforms, including the Eze OMS and RealTick, to monitor mutual funds collateral needs and liaise with fund administrators and custody banks to ensure those needs are met in a timely manner. This includes upgrading customers current execution and reporting infrastructure to accommodate regulatory requirements and operational considerations.

Additionally, NorthPoint will offer mutual fund customers their expertise in navigating and securing the often complex tri-party agreements between the fund, trust banks and clearing firms, so the fund remains compliant with the Investment Company Act of 1940.

In order to compete with the growing number of hedge funds, mutual fund managers are increasingly looking to offer a variety of investment choices, including offering funds with hedged strategies, said Doug Nelson, chief executive officer of ConvergExs NorthPoint. We are very pleased to offer these services to help our customers employ new strategies and stay ahead of their competition.

NorthPoint is an industry‚Äźleading provider of integrated prime technologies. Its full suite of technology-based solutions include prime custody, execution solutions, analytics and reporting, capital introduction, research, commission management and start‚Äźup services. Since being acquired by ConvergEx in late 2009, NorthPoints customers also have access to ConvergExs entire global offering of powerful investment technologies and advanced execution solutions. NorthPoint was recently named a Top Rated Provider in Global Custodians 2010 Prime Broker Survey.

Source

Press Release
bc

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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanleyís newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the regionís

  3. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar