Fiserv, the Brookfield, Wis.-based provider of capital markets technology and services, has announced a partnership with Chicago-based HedgeACT, which will provide asset management clients with access to a range of hedge funds through their managed account portfolios.
The HedgeACT portal will be integrated with Fiserv's Unified Wealth Platform, enabling what Fiserv calls "sleeve-level functionality" for hedge fund research, modeling, investing, and reporting.
According to HedgeACT, the growing use of investment sleeves by unified managed account (UMA) and overlay managers in recent years has enabled it to pass on economies of scale to individual managed account investors, who can now invest in hedge funds for as little as $100,000. A decade ago, minimum hedge fund investments stood at around the million-dollar mark.
HedgeACT provides a conduit to a large number of hedge funds and streamlines mission-critical tasks for asset managers and sponsors, including: due diligence, interactive fund research, presentation support, comparative analyses, model portfolio creation and management, as well as asset allocation with account- and sleeve-level reporting. The hedge fund portal will be accessible through Fiserv's Unified Wealth Platform from Fiserv, which will manage clients' daily aggregation and reconciliation of transactional data tasks.
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