UK hedge fund manager will use Imagine's software to automate its historic and parametric VaR calculations.
Cheyne Capital, a London-based hdge fund manager with approximately $6 billion under management, has enlisted New York-headquartered Imagine Software's cloud-based profit and loss (P&L) and risk management tool for its new Global Credit Fund.
Cheyne's Undertakings for Collective Investment in Transferable Securities (UCITS)-compliant fund will use the software to manage its risk, including automating its historic and parametric Value-at-Risk (VaR) calculations.
"Imagine's software has provided us with best-in-class risk management for this new fund," says Dr Vasilios Siokis, chief risk officer (CRO) at Cheyne.
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