FOFiX 3.1, the new version of Riskdata’s flagship risk management service for fund of hedge funds, will incorporate FOFiX Active, which enables FOFiX users to seamlessly import data feeds from their preferred hedge fund or mutual fund database vendors directly into the application at the click of a button.
Riskdata, the leading provider of risk management solutions to the worldwide alternative investment marketplace, has partnered with leading hedge fund databases including Hedge Fund Research, Eurekahedge, BarclayHedge and HedgeFund.net to allow its users to leverage the latest risk information contained in these databases. Riskdata’s FOFiX risk management solution is specifically designed for the needs of fund of hedge funds, and investors into hedge funds. It covers all stages of the risk management process, including risk profiling, screening, monitoring, portfolio construction, risk testing and risk reporting.
Ingmar Adlerberg, Chairman of Riskdata commented: “We know our clients use external hedge fund databases for certain important functions, and this feature allows them to import this data very quickly. This dramatically assists investors searching across thousands of hedge funds for new candidates that precisely match a specific risk profile. This allows our clients to leverage to the full the AlphaRisk Screener function in FOFiX, which enables investors to rank and select external funds not only by their risk appetite, but to match precise portfolio ‘risk style’ targets, as well as performance objectives.
“In current markets, it is more important than ever for investors such as funds of funds to spot new possible investments quicker, so they can fill any gaps in their portfolios in terms of funds with specific risk styles.”
Riskdata will be continuing to expand the range of database vendors available in FOFiX Active, and has agreed arrangements with the data vendors to ensure any changes in the structure of the databases are smoothly incorporated into the FOFiX interface.
Ken Heinz, President, Hedge Fund Research, Inc said: “With the explosive growth and complexity of the hedge fund and fund of hedge funds industry, investors need a dynamic and seamless solution for analysis of the industry and management of the investment processes, which is effectively scaled to both large and small firms alike. The Riskdata FOFiX Active application integrates well with Hedge Fund Research’s enhanced classification system to facilitate efficient and relevant analysis and allocation decisions for investors and allocators.”
Sol Waksman, president of BarclayHedge said: “We are delighted to be able to provide our subscribers with the ability to analyse the comprehensive data available in the Barclay databases within the context of the enhanced functionality provided by Riskdata’s FOFiX interface.”
Joel Schwab, Managing Director of HedgeFund.net added: “We look forward to providing enhanced hedge fund intelligence and improving investor productivity by supporting the compatibility of HedgeFund.net information within FOFiX.”
Alexander Mearns, CEO of Eurekahedge, comments: “Eurekahedge are delighted to be working with Riskdata to offer our mutual clients access to the world’s largest alternative fund database from within Riskdata’s leading risk management, portfolio and hedge construction platform.”
FOFiX Active eliminates the tedious and time consuming task of converting, integrating and inter-operating the source data feed(s) available in many different file formats with FOFiX, thus allowing the user to focus only on performing meaningful risk analysis tasks. FOFiX Active thus allows an investor to:
— Select a partner hedge fund database vendor from a drop down list, without leaving the FOFiX interface;
— Download and integrate new and updated data feeds available with the vendor of choice at preferred frequency intervals, from within the application;
— Sidestep the download step for the data which already resides in the investor’s local machine and only use the parsing functionality to integrate data with FOFiX;
— Presentation of the summary of all data records which were downloaded, parsed and mapped, displaying meaningful static information for each data record;
— Self explanatory error messages are displayed in the status window, guiding user to diagnose simple connectivity or parsing problems.