SunGard Data Systems has released a new version of its Visual Portfolio Manager accounting system for hedge funds, the company said Monday.

“SunGard’s VPM version 9.0 provides hedge funds with an enterprise-level portfolio accounting application that is built on a service-oriented architecture for plug-and-play integration with a firm’s existing applications and scalability to address future business needs,” SunGard said in a release. The new version also provides screen displays designed to increase   operational efficiency, simplify workflows and provide intuitive access to functions, the firm said.

“We continually work with our customers to identify solutions to address challenges facing hedge funds, including lack of transparency and an increased need for open technology and static reporting,” said Scott Alintoff, chief operating officer of SunGard’s VPM business unit. “Utilizing an open architecture design, click-through reporting and a completely new front-end design, VPM version 9.0 helps increase operational efficiency and provide transparency required by the most sophisticated institutional investors.”

VPM version 9.0 also includes streamlined data entry to help users view data according to their preferences, SunGard said, “which helps escalate data monitoring capabilities and improve efficiency.”

VPM’s reporting engine displays pertinent data in a graphical fashion, presenting timely access to mission-critical data through a centralized reporting portal, SunGard added: “It can help to provide firms with a clear picture of their operations and put actionable information at a user’s fingertips.”

“Regulators and institutional clients are fixated on transparency and improved reporting from their asset managers,” said Denise Valentine, a senior analyst at Boston-based Aite Group. “Recent scandals mean clients have higher standards of reporting - including requiring a rapid response to ad-hoc requests for information. Clients will expect all their managers to report on a par with their best reporting manager – a real challenge for some firms.”

SunGard’s VPM is a multi-currency back-office solution and transaction repository designed specifically for hedge funds. It supports virtually any asset type, including equities, fixed income, futures, bank debt (including multi-currency revolvers), and swaps.

SunGard Data Systems, based in Wayne, PA, is a leading software and services company. It is the third largest provider of business applications software after Oracle and SAP.

This article can also be found at SecuritiesIndustry.com.

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