SunGard says that New York – based hedge fund Victus Capital has selected Panorama as its trading and risk management infrastructure. Victus Capital will use Panorama for desk-level risk analytics, sensitivities, scenarios and stress tests, along with simulation-based Value – at – Risk across the enterprise.
Victus is a multi-strategy fund focusing on equity volatility arbitrage and convertible arbitrage. Victus currently has approximately $200 million under management, and the managers are in the process of raising a further $250 million for the newly launched Vicis fund. SunGard says that the requirement from potential investors in the new fund for a trusted portfolio and risk management infrastructure was key to the decision to buy Panorama.
“We selected Panorama because we required a proven portfolio and risk management infrastructure to support our growth as well as to satisfy the requirements of potential investors in the new Vicis fund,” says Shad Stastney, chief operating officer of Victus. “With Panorama we hope to improve enterprise-wide risk management with increased automation and operational efficiency. We chose Panorama over a number of other systems because of its easily extendable cross-asset and multi-strategy support, its real-time capability and SunGard’s demonstrated industry expertise.”
SunGard says Panorama’s real-time functionality will help the portfolio managers to manage their positions in real-time and allow risk managers to monitor risk parameters and trading limits in real-time. “Its flexibility and scalability will also enable the hedge funds to further develop and extend their Panorama solution according to their unique requirements as they change through time,” it says. “Panorama also forms part of SunGard Adaptiv, which provides straight-through processing and integrated risk management.”
Victus uses SunGard’s Monis application already for the valuation of convertible bonds and SunGard Business Integration’s FIX engine for trade capture.
“Hedge funds of all sizes increasingly require an institutional-grade portfolio and risk management infrastructure in order to help them to manage the growth of their business and attract institutional investment,” adds Steve Husk, president of SunGard’s Trading and Risk operating unit. “Panorama provides clients with a platform for growth that can help them to consolidate risks and exposures across all strategies within an open architecture that enables rapid and easy customization and extensibility.”