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April 24, 2020 | Case Studies

Global Asset Manager powers multi-asset strategy with Enfusion

A global boutique asset manager (AM) with approximately $70B in assets under management converted approximately $3B of multi-asset strategies to Enfusion

Client Summary

A global boutique asset manager (AM) with approximately $70B in assets under management converted approximately $3B of multi-asset strategies to Enfusion with a product mix including mutual fund, UCITS, CIT and private funds.

Background:

AM launched a multi-asset strategy in 2014. Initially, the AUM was minimal and thus, could not justify dedicated software to support the business. AM leveraged several software applications that were already being utilized for the long-only business. As the multi-asset business grew in AUM and complexity over the years the legacy software proved to be insufficient. The software was designed to support cash equities and as such pain points were felt around equity derivatives, credit products and FX. Manual workarounds were created to facilitate cash management, valuations, risk analysis and corporate action support, but ultimately this was a time consuming, expensive and error-prone solution. Maintaining several local installations also consumed a lot of resources and led to frequent issues and outages

Enfusion Provides

After initial conversations with more than two dozen vendors and a robust evaluation of the top contenders, AM selected Enfusion as the best fit for the multi-asset strategy. The benefits included, but were not exclusive to:

  • Enfusion streamlined what previously required multiple software applications and manual spreadsheets into one consolidated system across trading, compliance, performance, reconciliation, risk management and accounting.
  • Enfusion is fully hosted with zero technology footprint for AM. The cloud-based solution:
    • Dramatically reduced system outages
    • Improved disaster recovery contingency plans
    • Facilitated employees working remotely without complicated VPN sessions
    • Easily scales as new accounts and users are added
    • Seamlessly roles out updates containing new functionality without disrupting existing processes
  • Functional gaps were filled
    • Financing calculations on swap trades
    • Currency risk reporting
    • Real-time valuations on OTC derivatives
    • Automating a previously manual end of day trade delivery process
    • Push based alerts to streamline the workflow across various teams mitigating trade breaks
  • Enfusion’s global fund services offering was able to deliver timely reconciliation reports accomplishing two goals:
    • Producing the reports early in the morning before the AM staff arrived
    • Freeing up valuable bandwidth on the AM team to address higher-value projects

Visit www.enfusionsystems.com for more information.

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