In January 2023, GF Asset Management (GFAM) achieved a significant milestone with the successful launch of its inaugural liquid credit fund, which combines performing credit with global macro strategies. In planning for the launch, GFAM embarked on an ambitious mission, setting a tight timeline to carefully choose and integrate a single solution for its Portfolio Management System (PMS), Order and Execution Management System (OEMS), Accounting/General Ledger, and middle office functions.
At the top of GFAM’s priorities were robust multi-asset support for credit-focused strategies and institutional-grade controls to instill investor confidence and facilitate capital fundraising. As a small team, they also sought a system with built-in workflow optimization, allowing them to stay lean and nimble.
In considering the options, Roni Green, GFAM’s Chief Investment Officer, considered his prior tenure at an established Hong Kong hedge fund, where he encountered various systems, including Enfusion. Green was particularly drawn to Enfusion's cloud-native technology and seamless workflows for essential operations, such as shadow accounting, performance monitoring, risk management and middle office capabilities.
In our pursuit of an agile, cloud-based platform suitable for the credit landscape, Enfusion emerged as the ideal choice for a startup fund like ours.”
Navigating complex markets with precision
With Enfusion, GFAM commands the wide universe and nuances of setting up and trading fixed-income securities and connections to counterparties for post-trade workflows. After Green sends a trade order to Bloomberg, GFAM’s data provider, Enfusion automates the delivery of trade and allocation details to prime brokers, fund administrators and custodians daily.
Trade booking through Enfusion is totally seamless. It’s an example of a front-to-back workflow that literally works like magic for me.”
With continuous trading in fixed-income markets, GFAM requires up-to-date financial information. Enfusion’s integrated general ledger provides real-time visibility into the fund's performance, holdings and cash flows.
GFAM also benefits from bespoke reporting for a comprehensive view across coupon payments, bond maturities, accrued interest and quarterly fund distributions. During implementation, Enfusion created these custom reports within a week. “That flexibility on the reporting side has been very helpful to me,” Green said.
Optimized operations and time savings
Enfusion's comprehensive suite also allows GFAM to optimize its portfolio management. Functions like performance reporting, hedging, and risk tracking—typically requiring a dedicated headcount—are efficiently managed through Enfusion's unified platform. This streamlined approach also translates into substantial time savings for Green’s team, affording them more time for higher-value work like investment strategy and fundraising.
Using Enfusion for things like performance reporting and hedging saves my operations colleague and me at least a couple of hours a day. We are more efficient in terms of tracking risk, performance and trade booking, and this helps us manage our operating costs.”
Helping a local fund go global
GFAM offers a unique global liquid credit strategy, hedged back to Australian or U.S. dollars. While the local fixed-income market is substantial, GFAM’s strategy takes advantage of global market opportunities as well. With Enfusion’s boots on the ground and round-the-clock support, GFAM can effectively manage all the moving parts, including multiple counterparties and FX considerations.
Having a local Enfusion office has proven invaluable for us. The responsiveness, timeliness, and understanding of the local environment exhibited by the Enfusion team have been exceptional and made a significant difference in terms of service quality and availability.”
Hassle-free implementation and onboarding
Enfusion's cloud-based Software-as-a-Service (SaaS) delivery model ensured a smooth implementation process for GFAM. Enfusion was fully integrated within 9 weeks, aligning with the fund’s launch timeline.
During the process, Enfusion's dedicated support team collaborated closely with the GFAM team, focusing on their specific needs, making onboarding a hassle-free experience. The platform's intuitive interface empowered GFAM's team to begin using the system almost immediately after implementation.
In the startup phase, partnering with a firm that truly understands your needs is crucial. Enfusion 'got it.' Their setup process was impressively efficient, with pertinent questions that mattered. The ease of use for what I need to execute our liquid credit strategy has been exceptional. The support is nothing short of professional and businesslike, which is incredibly reassuring. I trust Enfusion completely, and I have confidence telling clients that my front-to-back-office operations are in capable hands.”
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