Citisoft, an investment management consulting firm, yesterday commenced its 15th evaluation of systems on behalf of alternative investment clients in the UK (onshore and offshore), Europe and the Far East. Citisoft has conducted evaluations of various systems for buy-side clients including hedge fund and fund of hedge fund managers, alternative investment divisions of traditional asset managers, private equity managers and hedge fund and fund of hedge fund administrators.
Over the last three years, a new market for consulting services has emerged from the asset management industry, driven by new demand for services related to alternative investments, the firm says. In addition to adopting sell-side techniques, which traditionally utilised alternative products for improved returns and risk management, buy-side firms have begun manufacturing their own products including structured credit and other fully synthetic products.
"It is a testament to buy-side creativity that this new market has developed at such a rapid pace," says Sunil Chadda, head of Citisoft's hedge funds and derivatives practice. "Because Citisoft has invested time, understanding and work in this market, the firm has been able to identify significant trends and their potential impact on its clients."
Citisoft says it identifies and evaluates vendors providing functionality and sub-sets of functionality for clients across all asset and instrument classes including trading and risk, pre- and post-trade compliance checking, decision support, pricing and valuation, accounting, ISDA document management, collateral and margin monitoring and management, performance contribution and measurement, sub-administration and pricing.
"Citisoft's reputation for successfully delivering product evaluation, selection and implementation projects within a short time-frame is driving our success in this space," observes Howard Mannion, CEO Citisoft Europe. "Citisoft as a whole has enjoyed healthy growth over the last year, thanks in a large part to the firm's commitment to the alternatives-driven market and by providing specialist investment management consulting services."