February 20, 2019 | Source: Artivest
Artivest has selected Sudrania Fund Services (“Sudrania”) to provide shadow fund accounting services for its Altegris mutual fund products.
Sudrania will provide Artivest with daily net asset value (NAV) recalculations independent of fund administrators, as well as additional reporting and data management via its Seamless SolutionTM proprietary software. The services include shadow accounting, reconciliation, new account setup, performance calculation, and account maintenance. Also, Sudrania will deliver a comprehensive data management solution to enable Artivest to enhance its performance and risk management functions.
The alternative asset management of Artivest, Altegris offers a variety of investment funds, including managed futures and real estate mutual funds, as well as a stable of access funds managed by some of the world’s leading commodity trading advisors (CTAs) and fund managers. Altegris was the pioneer of mutual funds in the CTA space.
“We chose Sudrania Fund Services because they have a highly experienced team, efficient processes, and modern technology for handling large, complex, and time-sensitive workflow of mutual funds on a daily basis,” said Robert Naka, Director of Operational Partnerships for Artivest. “We are raising the standards of fund management and recognize the need for shadow fund accounting. Sudrania is nimble, responsive, and shares our vision for driving innovation and growth using technology, infrastructure, and talent. Sudrania has impressed us with their innovative solution and customer-success mindset.”
“Sudrania is excited to work with Artivest,” said Nilesh Sudrania, Founder and CEO of Sudrania Fund Services. “Artivest’s Altegris unit has always been ahead of the pack in recognizing industry trends, and we are fortunate to count them as our client. Altegris has a rigorous vendor evaluation and selection process, along with an open-minded approach to embracing technology to improve operations and investment results.”
Sudrania developed its comprehensive Seamless SolutionTM software to give buy-side investment managers a single database solution for portfolio analytics, fund accounting, NAV calculations, investor allocations, and fee calculations, creating efficiencies by removing redundant data and workflow processes. Seamless SolutionTM is offered via cloud deployment with auto-scaling features for a cost-efficient, streamlined, and smooth operational workflow.
The founding team and executives of Sudrania have more than 15 years of experience in providing fund administration and back-office services for investment managers. Sudrania offers an extensive suite of services specifically designed to allow investment managers to outsource their back-office operations and fund administration to third parties with outstanding technology and talent. Sudrania’s fund services operations are SOC 1-audited/certified. Sudrania’s Seamless SolutionTM software is SOC 2-audited and certified. For more information about Sudrania’s Seamless SolutionTM, please visit http://www.sudrania.com/seamless.
Sudrania was founded in 2016 in Chicago, IL and developed Seamless SolutionTM that redefines back-office operations and reporting for investment managers, and provides a new technology alternative to legacy solutions for buy-side managers. Sudrania’s offices are located at 633 Rogers St, Suite 106, Downers Grove, IL 60515. For more information, please visit Sudrania’s website at sudrania.com.
Artivest is the premier alternative investment platform, offering investors and advisors digital access to institutional-quality alternative strategies, including private equity, hedge funds, managed futures, and real assets. Our enterprise solutions for asset and wealth managers include investment access and transaction processing, investment research and product structuring, and nationwide fund distribution. Artivest remains privately held by its employees and outside investors, led by KKR, Thiel Capital, Genstar Capital, and Aquiline Capital Partners. For more information, please visit artivest.co.