M.A.T. Share singled out for special mention due to its ability to help fund of hedge funds to integrate portfolio data efficiently.
Hedge fund technology provider Comada has recently been commended for its M.A.T. Share solution in the Back Office Innovation category of The Banker magazine’s 2007 Technology Awards. M.A.T. Share was the only hedge fund-specific technology solution to be singled out in the awards.
According to The Banker, “The M.A.T. Share solution brings order to chaos by sorting out the fragmented, non-standardised portfolio management issues in funds of hedge funds. It also offers an ASP approach in a market that does not have hi-tech departments.” The magazine added that “by gradually extending the approach to full STP, Comada is generating an innovative approach to an unstructured marketplace with M.A.T. Share.”
M.A.T. Share is designed to support portfolio managers responsible for funds where the main underlying security is hedge funds. It is available as a fully-supported software package that can be internally or externally hosted. Amongst the functions it covers are: portfolio monitoring, liquidity management, cash flow, performance measurement, data integration, and trade confirmation.
“We are delighted to have received this commendation from a magazine which enjoys such a high level of respect within the financial services industry,” commented Rupert Vaughan Williams, co-founder of Comada. “To.also receive such praise from an independent panel of judges within such a short time of M.A.T. Share’s launch is a welcome endorsement of our vision for our innovative operational solution for the funds of hedge funds industry which stems from treating funds as securities in their own right, allowing us to deliver a truly scalable platform to managers and their service providers.”
The Banker’s panel of judges included Chris Skinner (Chairman of the Financial Services Club); Parveen Bansal (Senior Researcher with Financial Insights); PJ Di Giammarino (Chief Executive of JWG IT Ltd); Clive Hawkins (European Head of Equities, UBS); Tim Jones (Non-Executive Director, Capital One Bank); Jamie Martin (Head of Payments, National Australia Group); Pekka Jarvinen (Head of Research, Nordea); Sherrie Rad (Strategy Project Manager, Business Operations, HSBC); Eric Sepkes (Vice President, Global Transaction Services, Citibank); and Clive Winchup, Divisional CIO, UKRB, Lloyds TSB).
Dave Shastri, another co-founder of Comada, said: “From the beginning, we wanted M.A.T. Share to be recognised for its innovative approach to solving some of the very real operational problems the funds of hedge funds industry is facing today. There is a need within this industry for a solution that will provide portfolio managers with the means to share information easily within their organisation and with their service providers. We also realise that funds of funds need a flexible product that will not require a massive investment in time to implement properly.”