COR Financial Buys Compliance And Asset Allocation Tools From Credo Capital

COR Financial Solutions has signed a licence agreement with Credo Capital for the use of its new BITA Star product. BITA Star provides private client fund managers, family offices and private banks with "Know Your Client" and Strategic Asset Allocation

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COR Financial Solutions has signed a licence agreement with Credo Capital for the use of its new BITA Star product. BITA Star provides private client fund managers, family offices and private banks with “Know Your Client” and Strategic Asset Allocation tools.

“We are delighted to have signed Credo as our second, post launch, customer for BITA Star,” says Laurence Wormald, Research Director of COR Risk Solutions. “The system was only announced in February and already it is generating enormous interest in the private client market. Whilst our first client for BITA star builds bespoke portfolios for all of its clients, Credo takes a model fund approach. BITA Star was designed to support both approaches and it will be particularly useful for us to implement the model fund facilities for Credo.”

Credo is an international private client fund management and corporate finance operation based in London and with offices in Switzerland and South Africa. It uses Advent Software’s Advent Office products for portfolio management, portfolio modelling and rebalancing and trade and Order Management.

“We knew the functionality we were looking for but had been unable to find it in the marketplace. When we saw BITA Star and the facilities it offered we knew we had discovered what we wanted,” adds Zack Shone, CTO at Credo. “In particular the client reporting capabilities are market leading and will offer us a very powerful tool to help develop investment strategies and present them to our clients. As well as providing functionality that allows us to ‘really know our clients’, BITA Star will be integrated with our implementation of Advent Office, allowing us to automate the downstream processes of order management and portfolio management resulting from the construction and reallocation of client portfolios”.

Calum Graham, Regional Director for Advent Europe’s UK & Ireland business, says he sees the combination of Advent Office and BITA Star as “offering a very high level of client facing functionality and STP in the private client asset management industry.”

Starting with a questionnaire, BITA Star helps the investment manager to identify clients’ appetite for risk and return, and their need for income or capital growth. This process assists the firm meet its requirements and provides the input into the portfolio construction or model selection phase. COR will use the data management, reporting and risk and optimization capabilities of the BITA Curve platform to form the foundations of BITA Star. Advanced features such as currency hedging and multi-period cashflow optimisation have been included within the bespoke allocation tool.

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