Sophis says Descartes Investment Management, an Asia focused hedge fund, has implemented its VALUE system to support its convertible arbitrage, macro, equity derivatives volatility and equity long/short activities.
The fund, which is starting operation now, has $150 million of assets under management and aims at reaching $300 million. Descartes is using VALUE as its main integrated platform for front office, middle office and risk management.
“After a comprehensive selection process involving most of the main solution vendors in this marketplace, we chose Sophis VALUE because we believe this system provides the best capacity for sophisticated cross-asset derivatives trading and investment strategies, which match with the main focus of our company’s investment strategy,” says Edgar Chuan, Founder and CEO of Descartes Investment Management Group. “The vendor’s local service support during the selection and implementation period has also been provided in a very satisfactory way. As an in-house system, the overall system architecture of VALUE gives us full control and transparency over the sensitive customer portfolio data and risk view, while the hardware cost is limited and as low as any other solution alternatives.”
“We are very pleased to welcome Descartes as one of our clients. The Asian hedge fund industry has experienced a stellar growth in the last year, and we definitely consider this market as one of our priorities, hence the development of our Hong Kong office,” comments Herv Vinciguerra, Chairman of Sophis.
Sophis was founded in 1985, and has operations in London, Paris, New York, Frankfurt, Hong Kong and Tokyo. The company’s systems are used by more than 70 financial institutions worldwide, including Axa Investment Managers, Alexandra Investment Management, CDC IXIS Asset Management, and Mail Capital.