Opalesque Industry Update – Two hedge funds in Asia have selected Linedata Global Hedge to support their businesses. Linedata is a global solutions provider dedicated to the investment management and credit industries. |
One of these, Magenta Advisors PTE Ltd (Magenta), an independent boutique asset management and investment advisory firm based in Singapore, selected the portfolio management and middle office module of Linedata Global Hedge to support its start-up hedge fund business. Magenta will rely on Linedata to host and manage the software.
Recent analysis of the hedge fund industry in Asia shows strong performance and a record number of 1,128 hedge funds in the third quarter of 2012. With growing competition and volatile market conditions, it is important for hedge funds to have robust, trusted systems in place to support more complex requirements, deliver transparency and control, and ultimately attract investors. It was these factors that lead Magenta to search for a system.
Magenta conducted a thorough selection process based on vendors’ reputation in the industry, as well as the range and scalability of the product offering. They were particularly impressed with Linedata Global Hedge’s comprehensive handling of multiple asset types, its user friendly interface, strong technical support and its reputation in both the long only and alternative space. After shortlisting their preferred systems and trialling Linedata Global Hedge for a couple of weeks, Magenta chose Linedata.
May Lim, COO and Executive Director at Magenta, commented, “Linedata offers us both the functionality and scalable technology that we require to support our business. As a start-up, it is crucial for us to have control of our costs without sacrificing the integrity of the firm. We chose Linedata’s hosted solution as it gives us peace of mind regarding the system and data availability, it takes away the need for us to perform costly data backups and allows us to make the most effective use of our time by focusing on our core business. Looking forward, the ease of adding new funds and structures to the system means that we can launch a new product offering to our investors quickly and without incurring hefty implementation costs.”
“We are delighted to welcome Magenta Advisors to our client base,” said Sally Crane, Managing Director of Linedata Asia. “Having worked with over 200 start-ups around the world, we understood Magenta’s requirements for scalability, broad functional coverage, excellent support and choice of deployment. The addition of two clients, a start-up hedge fund and a well-established, China-focused long/short equity fund with AUM of $2bn, is affirmation that our offering is strong and well placed to meet business requirements now and in the future.”