NEW YORK (HedgeWorld.com) – Alexandra Investment Management, a US$950 million manager in New York, is the third American hedge fund to adopt VALUE, an integrated portfolio and risk managementsoftware launched last yearby Sophis and favored by European managers.

Alexandra chose this system in order to deal with its significant increase in trading volume and is getting Sophis’ global convertible bonds database as part of the package. The manager will use the product to integrate workflow as well as for intraday screening of the market and various analyses and calculations.

“As our portfolio grows, it was a necessity for us to adopt a robust system that would allow us to manage our portfolio and screen the market in real-time,” said Vadim Iosilevich, head of trading at Alexandra, in a statement.

“We selected VALUE because of the very high flexibility of the software and quickness of integration. We were looking for an off- the shelf solution that could be in production quickly but that would also be very open to allowing us to customize it.” He added that the wide scope of the functions it offers could also help the fund handle new instruments.

According to Sophis Chief Executive Herv Vinciguerra, VALUE has been adopted both by startup hedge funds and by more seasoned, established firms likeAlexandra. “We think that the bundle between convertibles’ online database and VALUE’s analytics and workflow gives users an advanced position in convertible arbitrage processing,” he added.

French and English institutional managers and hedge funds, including Axa Investment Management, Paris and Maple Leaf Capital, London, pioneered the use of this system. For example, Axa Vega, a convertible arbitrage hedge fund, and Axa structured products use it to price portfolios and calculate risks.