SunGard Investment Management Systems is launching HedgePower its hosted investment accounting service for the hedge fund and alternative investment industry, in Europe.
HedgePower integrates SunGard's real time STP investment accounting system Invest One with the vendor's accounting, general ledger, allocation and reporting software, InvesTier.
The service also incorporates functionality from other SunGard products - including Reech RiskHedge for risk management and Reech FastVal for independent portfolio valuations - to form an end-to-end system that helps customers manage operational risk and comply with regulations.
SunGard says the ASP service will be expanded to include both its GP3 system and recently acquired V3 investment accounting software.
Jack McArdle, group CEO of SunGard Investment Management Systems, says: "Because HedgePower is offered on an ASP basis, our customers get the best of both worlds: end-to-end capabilities in one powerful system, and a cost-effective, feature-rich solution hosted on SunGard's resilient, Web-hosted infrastructure."