Algorithmics says Plainfield Asset Management has bought its Algo Risk application.
Plainfield is a US hedge fund that pursues distressed and special debt strategies. Algorithmics says the accurate measurement and analysis of portfolio risk is a core part of its investment process.
“Strategic risk management is one of the foundations of our business,” says Max Holmes, Plainfield’s founder and Chief Investment Officer. “Algorithmics’ leading analytics and multiple delivery options are designed to ensure we can maintain excellence in risk management while scaling our system to meet current and future requirements.”
Algo Risk has so far been bought by 17 buy-side clients since its launch in 2004.
“Greater transparency and a strategic approach to risk within the investment process are becoming core demands of institutional investors and regulators,” says Dr. Andrew Aziz, Managing Director, market risk and buy-side solutions at Algorithmics. “Innovative, growth-oriented hedge funds such as Plainfield Asset Management are embracing actionable risk management based on leading-edge analytics and flexible delivery options.”
Algo Risk aims to enable portfolio managers, traders, risk managers and quants to measure, monitor and manage investments from both decision support and risk oversight context. It is supported by portfolio/risk analytics, valuation methodologies and scenario generation techniques and can be used to support both investment decisions and risk oversight. Its mark-to-future architecture is asset class and risk factor agnostic, enabling the solution to span all holdings and investment strategies across the enterprise. In addition, the architecture enables the solution to be deployed as either an in-house implementation or as an outsourced offering provided through Algorithmics’ hosting partners, Bloomberg via an ASP and Cicada Risk through a managed service.