New York based Family Office (FO) managing $2-3bil opportunistic long/short equity portfolio. The firm only manages internal capital and is not open to external investors.
FO operated with multiple disjointed software systems and no central-hub connecting front-middle-back office(s) with compliance. As the business grew, the legacy software caused multiple operational pain points – 1) Pre-trade compliance procedures were out-of-date which often delayed trade execution resulting in losses; 2) Manual work arounds were created to support compliance procedures and EOD trade file delivery to 3rd parties. Both issues forced the FO to hire additional staff to maintain and create manual systems.
Of all investments managed both internally and externally
Firm level costs, accruals & cash management in single system
Streamlined Operational Efficiency
Integráta replaced multiple legacy software applications and subsequently streamlined workflow from trade execution to back office accounting with integrated compliance throughout.
Integráta’s single data set fully integrated FO’s front, middle and backoffices – providing a holistic overview of the business.
Significant Cost Savings
By utilizing Enfusion’s general ledger the FO was able to replace their fund administrator. TIP: FOs managing internal capital alone do not require a fund administrator which is a significant expense. Fund administrators are only needed when firm is managing external capital.
The move from legacy software to Integráta gave FO a break in cost going from multiple applications to one solution and allowed employees to focus on alpha generation.
Enhanced Compliance and Controls
With industry leading pre-and post-trade compliance integrated with order/execution, portfolio management and general ledger Integráta was the ideal solution for the FOs Chief Compliance Officer.