Kingsway Capital reaches new frontiers with help from Enfusion
Kingsway Capital launched its first fund in 2013. Growth quickly followed, along with the complexities of managing a complex portfolio across multiple frontier markets. Kingsway saw operational improvement and more control as key to their ability to scale and attract more institutional investors. But they did not want to lose efficiency or the ability to run lean.
To reach the next level, they moved manual and Excel-driven portfolio management and accounting to Enfusion in 2015.
“Enfusion helped us streamline our operations and achieve the scale we need to enter new markets and asset classes,” said Edward Thompson, Operations Manager, Kingsway Capital.
As a frontier markets investor, Kingsway’s exposure includes a wide range of jurisdictions, including Bangladesh, Uganda, Pakistan, and Saudi Arabia. Trading in local currencies while keeping their books in U.S. dollars risks creating a steep climb from front to back office.
As Kingsway experienced the benefits of Enfusion as a PMS, they realized they could achieve even greater efficiency. They began using Enfusion Managed Services in 2021. Enfusion’s middle-office resources help Kingsway streamline trade execution, post-trade processing, and fund accounting.
The Enfusion Managed Services team handles burdensome tasks such as trade confirmations, cash breaks, and shadow NAV calculations for Kingsway so their internal team can remain agile and focus on higher-value work. “I’ve got nothing but positive words to say about the team. They’re very proactive, approachable, and fast in their response.” said Edward.
Most recently, Kingsway implemented Enfusion’s OEMS to enhance security and compliance around trading. Their implementation connects them to their prime broker Pictet directly within the Enfusion platform. In addition, Enfusion’s embedded pre- and post-trade compliance rules help them enhance their trading controls. The increased end-to-end transparency help Kingsway meet the stringent due diligence requirements of institutional investors.
“In areas such as NAV reconciliation, Enfusion is saving us 50% or more in time,” Edward concluded. “Using Managed Services gives us additional savings and confidence by quickly getting to the root cause of cash breaks and resolving them. We can review month end with position breaks, pricing breaks, and cash breaks already addressed, saving hours on the month-end reconciliation process.”