Virtus Partners has launched a hedge fund administration (HFA) service, and has selected SunGard’s VPM portfolio accounting and reporting solution for the new business unit.
The service is focused on credit and fixed income managers, and will leverage SunGard’s Hedge360 suite to support client’s middle- and back-office operations.
Virtus fund services launched with a multibillion dollar mandate for the U.S. and Europe.
“The transparency afforded by VPM gives our clients the capacity to log directly into our portfolio accounting system on a read-only basis to examine the processing and service in real-time,” says Jeffery Law, head of Hedge Fund Services at VP Fund Services, the wholly-owned subsidiary of Virtus Partners.
“This is hugely important given the emphasis on transparency driven by existing regulation, such as the Alternative Investment Fund Manager Directive (AIFMD) and future rules including the review of the Markets in Financial Instrument Directive (MiFID II).”