La Fayette picks Riskdata for fund of hedge funds

La Fayette Investment Management will use Riskdata's FOFiX software to manage risk for its funds of hedge funds.

La Fayette, based in London, has a total of $2.7 billion under management in various multi-manager, multi-strategy funds of hedge funds. Most of its investors are institutions or high-net-worth individuals. La Fayette classifies its strategies as directional (such as equity long/short), relative value, event driven, or focused on a specific asset type.

FOFiX is designed for managers of funds of hedge funds, and is the first risk management service to provide daily updates on equities, fixed-income, listed and over-the-counter derivatives.

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