BNP Paribas Securities Services has launched an investment program to upgrade its hedge fund and fund of hedge fund administration services.
The new program includes enhanced tri-party reconciliations; a more flexible platform offering automatically processed OTC instruments, collateral management, independent valuation and asset protection structures; comprehensive fund reporting, including daily profit and loss, counterparty and asset exposure risk, portfolio liquidity and FAS 157-compliant daily asset valuations; and online reporting tools.
BNP Paribas says the new service is tailored to meet the needs of both startup and established funds. The firm says its administration service support hedge fund managers using all current strategies, including those using high-volume trading. It also continues to deliver BNP Paribas market intelligence.
As the hedge fund industry becomes more institutional-investor focused, hedge fund managers administration requirements will continue to evolve, says Chris Adams, who was recently appointed head of hedge fund solutions at BNP Paribas Securities Services. This investment program, now live, was conceived specifically to meet these requirements by taking a more menu-driven approach helping managers launch funds quickly, measure counterparty exposure and exert greater control. It is part of our ongoing commitment towards positioning ourselves as the bank of choice for asset managers.
Last November, BNP Paribas launched a service combining custody, clearing and fund administration with principal and agency lending, foreign exchange and collateral management, as well as a variety of financing solutions to asset owners, asset managers, including alternatives, and broker-dealers, from the banks Market and Financing Services business.
(CG)