Alternative Investment Group Chooses SS&C Fund Services.$1.6 Billion Funds of Hedge Funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" Manager Selects SS&C for Technology and Team WINDSOR, Conn. -- SS&C Technologies, Inc. (www.ssctech.com), a global provider of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. software and software-enabled services, today announced Alternative Investment Group, an independent investment management firm with US$1.6 billion assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , has appointed SS&C Fund Services to handle the fund administration and accounting for its funds of hedge funds. SS&C will provide Alternative Investment Group with independent fund accounting and net asset value calculation as well as financial reporting services, leveraging their proprietary software suite. "After an extensive search, we chose SS&C Fund Services because we believe that SS&C's proven technology and expertise could best meet our need for a trusted independent partner," said Marita Wein, partner, Alternative Investment Group. "In addition, we were already using SS&C's FundRunner application for our investor relationship management activities and were impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with synergies between our existing infrastructure and their services." "Independent third party accounting services continue to be in high demand from investors and reputable rep·u·ta·ble adj. Having a good reputation; honorable. rep  u·ta·bil firms such as Alternative
Investment Group," said Bill Stone, chairman and chief executive
officer, SS&C Technologies. "We are delighted that Alternative
Investment Group has chosen SS&C to manage their platform and we
look forward to working together."
SS&C Fund Services is a leading independent provider of independent fund administration services for 1,500 funds with US$130 billion assets under administration and support multiple structures including Hedge Funds, Fund of Hedge Funds A fund of hedge funds is a fund which invests in several different hedge funds to spread the risks. Funds of hedge funds select hedge fund managers and construct portfolios based upon those selections. and Private Equity Funds, and Managed Account Platforms. About Alternative Investment Group Alternative Investment Group was co-founded in August 1996 by Stewart Greenfield Greenfield, town (1990 pop. 18,666), seat of Franklin co., NW Mass., at the confluence of the Deerfield and Green rivers, near their junction with the Connecticut; settled 1686, set off from Deerfield and inc. 1753. and David Storrs to manage marketable Marketable are securities that can be easily converted into cash. Such securities will generally have highly liquid markets allowing the security to be sold at a reasonable price very quickly. alternative investments through a fund of hedge funds approach, with a focus on fundamentally-oriented, hedged investment strategies. About SS&C Technologies SS&C delivers investment and financial management services and software focused exclusively on the financial services industry. By leveraging expertise in common investment business functions, SS&C cost effectively serves clients in the different industry segments, including: 1) insurance entities and pension funds, 2) institutional asset management, 3) hedge funds and family offices, 4) treasury, banks and credit unions 5) municipal finance, 6) real estate property management, 7) commercial lending and 8) financial markets. Additional information is available at www.ssctech.com. |
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