youDevise Launches HIP Enterprise for Large Fund of Hedge Funds and Administrators

15th July 2010

youDevise Ltd. announced the launch of HIP Enterprise™ – the first integrated portfolio management system for large fund of hedge fund (FoHF) complexes and administrators. HIP is an acronym for hedge fund information provider.

HIP Enterprise’s new front office tools combine with the HIP's original middle office capabilities to create a cutting-edge reporting and decision-making platform. When implemented by an administrator, HIP Enterprise also integrates and automates all back office functions. The HIP’s web APIs (application program interfaces), with XML push / pull capability, facilitate integration with internal or third party systems.

Industry’s First One-Stop Portfolio Management Solution – Integrates Front, Middle & Back Office and Internal Systems
Eliminates Reliance on Disconnected Systems & Spreadsheets
Cloud Delivery via the Web Requires No Installation, Automates Upgrades and Enables 24/7 Global Access

“HIP Enterprise represents the industry’s first one-stop solution that can completely remove the disconnected assortment of spreadsheets and proprietary and third party systems used by large FoHFs," said Richard Koppel, HIP co-developer and managing director of youDevise.

"In the wake of the financial crisis, FoHFs are under enormous pressure to rebuild assets, reduce costs and perform. Not only does HIP Enterprise save time and money, improve accuracy and reduce risk, but it is particularly well-suited for the current investment climate, which places a premium on liquidity, transparency and accountability."

“Because of its new, streamlined approach, HIP Enterprise is significantly more economical than the cost of developing and maintaining a collection of spreadsheets and proprietary and third party systems.”

HIP Enterprise is based on youDevise’s HIP 2.0, which youDevise has rebranded as the HIP Pro™ solution for smaller funds. HIP technology is currently being used by FoHFs with an
aggregate of US$45 billion assets under management and by leading third party administrators.

Core Features

Front Office. Scenario modeling, company-wide analytics, investment compliance and reporting.
Middle Office. Fund performance, portfolio valuation, liquidity forecasts (taking account of all gating restrictions) and FX hedging.
Back Office. Data maintenance, trade settlement and security pricing.
Integration. Near-real time and offline inbound and outbound transfer of all types of fund data such as asset definitions (including liquidity terms), trades (including special terms and trade types and FX hedges), and prices (including FX spot and forward rates).

Industry Innovations

Interactive modeling allows users to enter expected percentage changes for investor transactions and hedge fund investments over multiple future periods; monitor the effects of these expected changes upon liquidity, compliance and asset allocation against user-defined categories such as trading style or investment region; and generate a list of proposed trades ready to be sent to an administrator for settlement.

As the industry's only “cloud” based platform, no software installation is necessary, and maintenance and upgrades are automatic. Administrators can roll the service out quickly to clients, and users can access it from any location 24/7. Managers can work off site, salespeople can use it to market results to prospects, and funds can report performance online to clients.

Unlike other FoHF systems, HIP Enterprise is based on industry standard technologies that collect all data in a single “warehouse” and then provide multiple ways to interact with that data. Scalable, with high throughput, HIP technology can process spikes in transaction volumes, as occurred during the financial crisis in 2008-2009.

Front Office Highlights

Company Analytics. Delivers transparency by measuring portfolio performance, projecting liquidity, and quantifying exposure at any time to specific hedge funds, currencies, strategies, regions and counter parties.
Scenario Modeling. Captures any number of "what if" trades to construct future trading scenarios, and analyzes the impact of these scenarios on the investment profile. Also assesses the impact of expected hedge fund performance, corporate actions, and investor activity.
Compliance. Captures investment guidelines and determines whether trading decisions violate investment parameters, before and after each trading cycle.
Reporting. Provides information an investment manager needs to make informed investment decisions. For example, HIP Enterprise displays the historical performance of portfolios, strategies and hedge funds across the entire fund company.