The technology giant's VPM asset management arm has announced a collaboration with Virtus Partners LLC, a provider of fixed-income asset administrative and middle-office services and data to funds, in which Virtus’s global load data feed will be fully integrated with VPM.
The partnership aims at creating an end-to-end loan administration, accounting, and reporting solution for bank debt management, which will include reduced manual data input and streamlined bank loan processing, with the ultimate goal of growing the asset class's usage among buy-side managers.
"When it comes to bank debt, the pressure is on for asset managers. Investors’ demand to improve recent lackluster performance from many hedge funds is spurring interest in higher-risk investments that offer opportunities for greater returns," says Scott Alintoff, COO for SunGard VPM. "This includes asset classes such as bank debt, which provides portfolio diversification and offers potential returns that can outperform high-yield bonds and other investment options; yet, alternative asset managers diving in without full knowledge of the complexities of bank debt may find themselves ill-prepared to handle this asset class. Managed properly, however, the rewards can more than compensate for the myriad of challenges bank debt pose."
Adds Kelly Faykus, managing director at Virtus Partners, "We see this as the convergence of complementary solutions in the hedge fund space to better manage bank debt. There is a similar ambition and focus on long-term scalability in SunGard and we were impressed with the technical sophistication of the VPM solution, as well as the collaborative approach and leadership strength of the team.”
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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