Vulpes Investment Management has increased data accuracy and decreased vendor and technology costs by deploying valuations, risk and straight-through-processing (STP) provided by Markit.
The Singapore-based investment manager was using different vendor systems to support portfolio management, execution, evaluation and risk across asset classes including exchange traded derivatives, private equity and illiquid debt holdings, but wanted to reduce the number of vendors involved in the workflow and introduce STP.
The firm started to talk to Markit about valuations back in January 2013, but then took a step back to consider the broader picture of not only valuations, but also risk and STP.
Markit could fulfil these extended requirements with its recently expanded Portfolio Valuations service, which includes scenario analysis and value at risk metrics, and mapping between its services and Vulpes Investment Management’s systems. The system went live in November 2013, reducing the number of vendor solutions needed by Vulpes Investment Management from five to two, the Markit Portfolio Valuations service plus a vendor portfolio and trade management platform.
Scott Treloar, chief risk officer at Vulpes Investment Management, explains: “We have increased our risk management and illiquid security valuation capabilities by using Markit’s fully hosted solution, which seamlessly interacts with our portfolio and trade management platform. This end-to-end workflow has allowed us to retire a number of legacy systems and simplify our internal processes, while enhancing the way we handle data and analytics.”
The Vulpes Investment Management deployment provides daily valuations for internal and external reporting, and takes advantage of Markit’s expansion of the Portfolio Valuations service that now integrates the company’s risk platform and real-time trade data from MarkitSERV.