This outsourcing, coupled with the front-office capabilities offered, means that Citigroup can provide a range of solutions for Asian hedge fund managers, from prime brokerage through to back-office administration. The US bank is already a provider of AIAS elsewhere in the world.
Using the Beauchamp hedge fund software from French vendor Linedata, Citigroup allows hedge fund managers to have co-ordinated and integrated systems. The system connects the back and front office via Citigroup’s OpenPrime open-architecture system, which provides secure end-to-end capabilities including trading, order and portfolio management, and accounting.
Asia is one of the fastest growing regions in terms of funds under management. The number of new fund launches is forecast to hit 216 in 2006, up from 95 in 2003, and assets under management have doubled since 2003, according to Singapore-based research firm Eurekahedge.