Linedata Signs Magenta in Asia

Magenta is using Linedata's systems to support its start up hedge fund.

Buy-side technology vendor Linedata has announced that its Global Hedge product has been selected by Magenta Advisors PTE, a Singapore-based hedge fund.

Magenta, which is taking a hosted package from Linedata, will be using the portfolio management and middle office modules in order to support the fund.

"Linedata offers us both the functionality and scalable technology that we require to support our business," says May Lim, COO and executive director at Magenta. "As a start-up, it is crucial for us to have control of our costs without sacrificing the integrity of the firm. We chose Linedata’s hosted solution as it gives us peace of mind regarding the system and data availability, it takes away the need for us to perform costly data backups and allows us to make the most effective use of our time by focusing on our core business. Looking forward, the ease of adding new funds and structures to the system means that we can launch a new product offering to our investors quickly and without incurring hefty implementation costs."

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