NEW YORK, N.Y., Jan. 16 (SEND2PRESS NEWSWIRE) — CorrectNet today announced that LaCrosse Global Fund Services has selected the infiPOINT(TM) platform as its hedge fund manager reporting application. The system enables LaCrosse to provide hedge fund clients with online access to hundreds of back-, middle- and front-office reports on operations management.
LaCrosse is an independently managed subsidiary of Cargill that serves complex funds requiring global capabilities in equities, fixed income, foreign exchange, credit instruments, distressed debt, commodities, emerging markets and related derivatives. Additional services will include facilitation of custodian and prime broker confirmation, trade confirmations, over-the-counter derivatives processing, cash and collateral management, administration of onshore and offshore fund entities and independent valuation of hedge fund portfolios.
The new client reporting platform is compatible with many operational systems, supports high volumes of intraday data, handles complex fund structures and delivers manager reports globally.
“Client reporting is a critical component of our service offering,” said Gerard Tallarido, Product Development Manager at LaCrosse. “Our client workstation will be the delivery point for a comprehensive range of global services that encompass a complete set of capabilities related to hedge fund administration, middle-office and operations outsourcing. By collaborating with CorrectNet, LaCrosse will be able to deliver prompt, high-end customized reports.”
“Our continued growth within the hedge fund administration and outsourcing business confirms the value of our reporting platform,” said Jim Rich, SVP of Sales and Marketing for CorrectNet. “We are pleased that LaCrosse is partnering with us to manage complex client reporting requirements.”
New York-based CorrectNet (www.CorrectNet.com) is a market leader in implementing and supporting enterprise data delivery applications for many of the world’s largest financial institutions.
CorrectNet serves over 800 firms through relationships with leading fund administrators, prime brokers, and service providers. Clients include seven of the top 12 hedge fund administrators-encompassing over 40 percent of the world’s hedge funds-serving the information needs of over 300,000 investors.
CorrectNet’s infiPOINT(TM) data delivery platform complements internal data warehouse initiatives by enabling multi-channel distribution of information to corporate executives, external clients and counterparties. This managed service consolidates complex financial data from virtually any data source including data warehouses, BI tools, local application data, spreadsheets, PDFs and Word documents, enabling client-branded data delivery applications in a fraction of the time associated with conventional development.
About LaCrosse Global Fund Services
LaCrosse Global Fund Services is a provider of operations, middle-office and administration services to hedge funds offering customized services that allow fund managers to save time, cut costs, improve reporting and enhance investor confidence so that they can focus on the markets and financial performance. These services cover everything “after the trade,”: facilitation of prime broker communications, trade confirmation, confirm review, settlement of non-prime broker transactions, reconciliations, cash and collateral management, distressed debt operations, derivatives operations, valuation, P&L/NAV estimation and fund administration.
LaCrosse Global Fund Services’ 10 global offices with over 160 employees are located in Bogota, Buenos Aires, Caracas, Istanbul, London, Minneapolis, Moscow, New York, Sao Paulo, and Singapore. Current assets under administration are in excess of USD $7 billion, encompassing strategies traded by global portfolio managers who cover fixed income securities, interest rates, credit, foreign exchange, equities, commodities and related derivatives.
LaCrosse is an independently managed subsidiary of Cargill providing services to the alternative investment industry.
News issued by: CorrectNet, Inc.
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Original Story ID: (2418) :: 2007-01-0116-001
Original Keywords: CorrectNet Inc, LaCrosse Global Fund Services, CorrectNet infiPOINT platform, front-office reports on operations management, Cargill, equities, fixed income, foreign exchange, credit instruments, distressed debt, commodities, emerging markets and related derivatives CorrectNet, Inc.