PerTrac, a provider of hedge fund data and analytics software, has launched a new service that offers hedge fund administrators the ability to deliver performance tear sheets to their hedge fund clients, including how well the funds performed relative to benchmarks.
Hedge fund managers can offer the alternative tear sheets to investors as independent, third-party verification of their hedge fund performance.
The new solution, called PerTrac Reporting-as-a-Service (RaaS), debuts at a time when institutional investors are demanding more transparency and independent verification of performance results from hedge funds.
Transparency, governance and independence in the assessment and reporting of all performance related measurements and processes continue to be the main concern of every institutional investor, says Lisa Corvese, managing director for Global Business Strategy at PerTrac.
Accessible via a cloud-based service, PerTrac RaaS frees fund administrators from the time and expense of calculating performance measurements and producing customized reports. PerTrac supplies the analytics and the reports that enable fund administrators to generate customized performance reports for each of their hedge fund clients within the fund administrators platform or portal.
Fund administrator Butterfield Fulcrum has gone live with the new RaaS service. The ability to provide these clear and comprehensive fact sheets to our hedge fund clients, and ultimately to their investors, is another step forward in creating more transparency and trust in the hedge fund industry, says Blair Henderson, managing director of marketing at Butterfield Fulcrum.
(CG)