Prophet Capital Asset Management, a $2.3bn structured credit hedge fund, has implemented Broadridge Financial’s integrated trading, portfolio management and operating platform.
The technology vendor said that Broadridge Investment Management Solutions, which includes Portfolio Master operating platform, now supports more than 225 hedge funds, asset managers, family offices, fund administrators and prime brokers globally.
According to Broadridge Investment Management Solutions president Bennett Egeth their global portfolio management solution enables hedge funds and asset managers to "institutionalize their infrastructure and realize significant operational efficiencies by having their order management, portfolio accounting and risk management on a common platform."
"By managing complexity, we allow clients to capture an order and automatically reconcile trade files to prime brokers, as well as provide a daily NAV to their administrator. This enables them to focus on differentiating activities like alpha generation and capital raising. Because we cover virtually every asset class globally, our clients can consolidate multiple platforms onto a single product suite," Egeth added.
Prophet Capital Asset Management COO Kurt Rechner said: "The Broadridge solution offered out-of-the-box functionality as well as the option for customization to support trading of complex securities – which was key for us – all through a single platform."