Prophet Capital takes on Broadridge operating platform

Prophet Capital Asset Management has announced that it has adopted the management and operating platform of Broadridge Financial Solutions.

The arrangement with Prophet Capital, a $2.3 billion credit hedge fund, means that Broadridge now offers the Portfolio Master operating platform to over 225 hedge funds, asset managers and fund administrators.

“An established structured credit fund like ours, with a two-decade growth trajectory and an increasingly sophisticated investor base, requires scalable, institutional-quality infrastructure,” said Kurt Rechner, COO of Prophet Capital Asset Management.

“The Broadridge solution offered out-of-the-box functionality as well as the option for customisation to support trading of complex securities all through a single platform.”

President of investment management solutions at Broadgate, Bennett Egeth, explaned how the firm’s technology offering has developed.

“Our global portfolio management solution enables hedge funds and asset managers to institutionalise their infrastructure and realise significant operational efficiencies by having their order management, portfolio accounting and risk management on a common platform.”