Sanlam Prime Services (SPS), a South African prime brokerage firm, has deployed financial provider Charles River’s Investment Management System (IMS) at the GenX Statistical Arbitrage Hedge Fund, one of its hedge fund clients. SPS plans to roll out Charles River IMS to three more South African hedge funds by the end of 2008.
According to Charles River, its IMS will allow SPS’s clients to benefit from portfolio management tools, streamlined trade order management and execution, and real-time pre-trade and batched compliance testing and monitoring on a single integrated platform for derivatives, fixed income, foreign exchange and equities.
“In today’s increasingly competitive South African hedge fund market, managers continue to differentiate their fund offerings by establishing more specialised and complex strategies.” said Terence Naidu, co-head, SPS, in a statement. “A recent high-profile compliance breach has caused the Financial Services Board to tighten regulations in this market. The built-in compliance module made Charles River IMS a must have for SPS."