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There has been a significant global increase in the use of alternative investments as a financial instrument over the past decade. Alternative investments like private equity, hedge, venture, and real estate funds have helped the industry grow to $10 trillion in assets, and is projected to reach $20 trillion by 2020.
Despite this explosive growth, the industry has only recently begun to look at how technology can help. The industry relies heavily on documents to operate as the industry is yet to be modernized. Investors learn about the performance of their investments by receiving static statements instead of being able to view performance metrics in dynamic digital dashboards. This leaves investors with little ability to easily look at their investments over a period and be able to do simple analysis that anyone with a brokerage account at Vanguard, Schwab or others have become used to being able to do.
This lack of modernization hasn’t only affected the investor; it has also affected the stakeholders that are charged with keeping the alternative investment machine running. Fund administrators, private banks, family offices, O-CIOs and others rely on people to manually enter and analyze the performance of an alternative investment. This results in large inefficiency and lost productivity.
We’ve worked hard to make an immediate impact for our customers, and our roadmap is full of more innovative features
Importantly for private banks, FundManager.io is an API-based technology, which means it can be used to modernize the way that private fund data can flow within the bank. FundManager.io can help a private bank by serving as the system in which investment advisors enter performance metrics for alternative investments. This reduces the need for the private bank to staff their middle offices with teams of people to handle the work of manually entering and aggregating that data. Data in FundManager.io can be ported via API to any consolidated reporting system that the private bank uses. This gives the bank the ability to show alternative investment data alongside brokerage data for a customer, which is seldom seen in the industry today.
“We have worked very hard to build a product that makes a difference in this industry, and we are very encouraged by the traction that we have gained in the market over the past year. Our roadmap is full of features that will see us continuing to help the industry innovate in ways that would have seemed unimaginable just a few years ago, so we are very excited about our future”, said Pizzi.