Provides additional transparency into underlying securities positions through exposure reporting, as well as stress-testing and back-testing capabilities
State Street, a provider of financial services to institutional investors, has added new services to its fund of hedge funds service offerings, which build on its suite of services spanning the hedge fund investment cycle.
Reportedly, fund managers can now benefit from a combined full-service solution that includes not only custody, fund accounting, cash management, registration, risk services, investor services and credit, but also integrated portfolio construction tools that incorporate current and prospective fund investments.
State Street has said that the improved fund of hedge funds service offering provides ease of access to its fund administration services through a web-based platform, AlphaFrontier, designed specifically to meet the needs of its fund of hedge funds customers. Additionally, the fund of hedge funds services can be customized as a full-service model, a cross-enterprise service solution or as a targeted set of services to meet each customer’s unique needs.
Jack Klinck, executive vice president and global head of State Street’s Alternative Investment Solutions group, said: “Increasing regulatory and investor demands are prompting more fund of hedge funds managers to seek a bundled third party administrator and State Street has long believed in partnering with our customers to provide fund administration services that optimize business processes and help mitigate operational risk. State Street supports the fund manager’s investment lifecycle and provides additional transparency into underlying securities positions through exposure reporting, as well as stress-testing and back-testing capabilities.”