SunGard says that Evolution Capital Management (Evolution), a $1 billion hedge fund based in Honolulu, is implementing its cross-asset class trading platform, FRONT ARENA to support its enterprise trading, risk management, processing and reporting requirements.
Evolution employs a multi-strategy investment style covering equity, equity derivatives, convertibles, credit derivatives and structured products, with a specific focus in the Pacific Rim. SunGard says FRONT ARENA will provide Evolution with secure modeling, secure and auditable pricing and, automated trading and risk management functionality.
Evolution will also deploy FRONT ARENA’s built-in models and data from SunGard’s Monis for the valuation of convertible bonds and asset swaps. Monis provides management and analysis, pricing data, and specialized training for convertible arbitrage traders.
FRONT ARENA can be connected easily to third-party systems, data providers, prime brokers and hedge fund administrators, says SunGard.
“We selected SunGard’s FRONT ARENA because it not only provided comprehensive out-of-the-box functionality, but also because of its open, extensible framework,” Adrian Brindle, managing director and chief operating officer at Evolution. “FRONT ARENA will be able to grow with us as we expand our business.”
Rob Mackay, managing director, Americas, SunGard’s FRONT ARENA business unit, says Evolution is only the latest of many hedge funds to buy the FRONT ARENA technology. “A growing number of hedge funds that are looking to SunGard and FRONT ARENA to provide a vendor partnership and technology platform that helps them streamline their operations, reduce operating risks, centralize and improve risk management, and grow their business,” he says.
Founded in 2002, Evolution is a Registered Investment Adviser with the SEC and has more than $1 billion in assets under management. The firm focuses primarily on Asia-Pacific equity and equity-linked markets and employs more than 60 people across its group companies.