Paladyne Systems, Inc., a Sservices provider for the hedge fund industry, has licenced its Paladyne Analytics Master to Columbus Avenue Consulting, a global provider of onshore and offshore administrative services to hedge funds and funds of hedge funds.
Columbus Avenue Consulting will host Paladyne Analytics Master directly and provide its clients web-based access to Paladynes custom reporting, data analysis, and automated reconciliation software. Paladyne has fully integrated Paladyne Analytics Master with Columbus Avenues accounting engine, SunGards Visual Portfolio Manager (VPM).
Paladyne Analytics Master provides fund administrators with a dynamic reporting and data warehouse platform accessible by both the administrator and its clients. As a result, fund administrators may use Paladyne Analytics Master internally for report creation and distribution, but may also provide their end clients with web-based access to the same reporting and data analysis service.
Paladyne Analytics Master is also used by administrators as an automated reconciliation tool. Paladynes data warehouse is used to reconcile external data sources such as prime broker and counterparty information with the administrators internal accounting system. Paladyne Analytics Master also provides fund administrators the ability to reconcile their internal accounting system directly with a clients own in-house version of VPM or Advent Geneva.
The automatic reconciliation of the administrators and clients books and records on a daily basis significantly reduces month-end processing time for the administrator and insures data consistency with the client.
“We explored several reporting and data analysis tools to offer our clients, and chose Paladyne Analytics Master for its broad functionality and its seamless integration with our portfolio accounting and back-office solution, Visual Portfolio Manager. Paladyne Analytics Master will provide our fund manager clients with direct access to their accounting and operational data, including NAV, P&L, performance, and transaction activity either on-demand or on a daily basis,” says Joe Holman, founder and managing partner, Columbus Avenue Consulting.
“We are excited to be providing Columbus Avenue with a unique technology offering that will help it expand and differentiate its fund administration services. In addition to providing Columbus Avenues clients with more flexible and timely reporting tools, Paladyne Analytics Master will significantly reduce reporting costs and improve overall data integrity,” adds Sameer Shalaby, CEO, Paladyne Systems.