Trema says Discovery Capital Management has become the first US hedge fund to go live with its asset management solution after an implementation that was completed in less than six months.
Trema says Discovery selected Trema Finance KIT, over nearly 60 other vendors, based on its ability to perform real-time profit and loss reporting and its straight-through processing (STP) capabilities.
Discovery is a multi-asset class, multi-strategy fund, with investments in the equity, debt and currency markets in over 20 countries, which Trema says makes its system requirements among the most demanding of any hedge fund in the world.
Finance KIT aims to automate the entire investment management process from order and portfolio management, operations, and accounting to analysis and reporting, while its real-time information capability and single point of deal-entry endeavours to mitigate operational risk. Finance KIT also incorporates web-based reporting.
“We chose to work with Trema both because of the strength of its asset management solution and the domain expertise of its people,” says Harry Krensky, Principal at Discovery. “The speed and efficiency of the implementation provides testimony to both of these qualities. We are excited about the benefits this new technology will extend in terms of real-time risk management, performance monitoring, STP, operational efficiency, integration and the competitive advantage it provides us.”
Trema says deamns for Finance KIT 6.0 is so hot it has had to hire a new Head of Asset Management and a UK Sales Director to support demand.
“We were able to get Discovery up and running with Trema Finance KIT in just under six months, which illustrates both the flexibility of our technology and the experience of our implementation teams,” says Ian Mullane, Head of Asset Management at Trema. “We expect to see significant growth within the asset management segment over the next few years and Trema is extremely well positioned to capture a significant percent of market share.”