Citi has launched a new global technology platform for funds of hedge funds (FoHFs). The new platform will provide clients of Citi's Securities and Fund Services business with a single, seamless and secure web accessible solution for their front, middle, and back office activities. HIP Enterprise is the first integrated online portfolio management system for large FoHF complexes and administrators. HIP is an acronym for Hedge Fund Information Provider.
"Citigroup's vision of providing its FoHF clients with an integrated platform for distributing information and capturing transactions is well-aligned with the capabilities of HIP Enterprise," stated Richard Koppel, managing director, youDevise.
"HIP Enterprise is a world-class portfolio management system. It has been proven to save time and money, improve accuracy and reduce risk - for both FoHFs and their administrators. It is particularly well-suited for the current investment climate, which places a premium on liquidity, transparency and accountability, and it can be implemented quickly and efficiently," he added.
"In today's challenging market environment, FoHFs are looking to their administrators and custodians to provide more timely information, flexible reporting, efficient transaction processing, and value-added tools for analysis. HIP Enterprise is the answer."
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio