WEST PALM BEACH, FL (HEDGECO.NET) – AGF asset Management Company has selected the risk management software developed by Riskdata for the risk reduction management of its Fund of funds operations. Thenew FOFIX platform is fully dedicated to Fund of funds risk budgeting and analysis.
According to the news release, the new product is the �first service offering a daily updated view on all market classes: equities, fixed-income, listed and OTC derivatives; the platform is an interactive system, rather than classic ASP model, users of the new software do not have to export client�s positions any longer, and developers of the new system says deployment is accomplished by performing simple steps. The chairman and CEO of AGF Asset Management in his statement said, �We are continuously looking for optimal diversification in our portfolios. Riskdata appears to be the only risk management solution covering 100% of our investments, and enabling a proactive approach to the portfolio construction process. We can therefore maintain an institutional level of risk transparency, highlighting the benefit of diversification and the consistency of our investment process.�
The CEO of Riskdata Olivier Le Marois, in his statement explained that: �FOFIX is designed to address the Institutional demand for risk transparency in an immediate, relevant and effective way. Immediate means leveraging all available information, whatever the level of transparency of the individual funds. Relevant means considering the hedge funds as a distinct asset class, capturing their dynamic and statistical specificities. Effective means that a risk report is not a formal exercise, it exists to communicate on the top of a structured investment process, to highlight its objectives and results�, according to Le Marois.
AGF Alternative Asset Management currently manages 10 funds with a total of US$1.75 billion; the firm also acts as investment advisor for an offshore fund with total assets of US $.350 million. Riskdata offers risk management solutions for Asset Managers, FOFIX was developed for Fund of Funds risk management, and HEDGIX was built to help Hedge fund managers address similar concerns.
Paul Oranika
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HedgeCo.Net
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