Quantix is an asset management firm specializing in commodity trading, with various products such as commodity hedge funds, long-only funds, and sub-advised ETFs. Quantix started using Enfusion after experiencing significant asset growth and needing a better product for reconciliation. Here, Andrew Weinstein, the Deputy COO/CFO of Quantix, shares his experience and satisfaction with Enfusion and explains how it helps his firm with their operational efficiency, strategy, reporting, risk, and compliance functions.

“Enfusion is the best software for commodity trading firms like us. It helps us with every aspect of our operations, from reconciliation to reporting, shadow accounting to compliance management. It is so customizable and has many capabilities that help us easily manipulate the data into reports that people can easily use and read. We are very happy with Enfusion and recommend it to anyone looking for a professional and efficient solution,” said Andrew Weinstein, Deputy COO/CFO of Quantix.

Quantix uses Enfusion to streamline its operations and enhance its performance. Enfusion simplifies Quantix’s reconciliation process at position and transaction levels and aligns their profit and loss (P&L) with their current fund administrator. Enfusion also splits the P&L contribution by component and displays their core trading strategy performance.

Enfusion also handles shadow accounting independently and helps reduce the risk of errors. Enfusion enables Quantix to see additional granularity on the chart of accounts, and that functionality and granularity are important to Quantix. Quantix ties out their income statement monthly, and with the robust usage of Enfusion’s accounting module and flexible chart of accounts, they are able to see the results of their month-end tie-out, allowing them to save hours of work on identifying breaks.

Enfusion generates custom reports for their managed accounts: balance sheet, income statement, P&L contribution, and additional bespoke reporting. Enfusion also helps Quantix track and compare their returns and exposures daily and evaluate their performance and strategy against various indices and benchmarks. Enfusion is a powerful and reliable partner for Quantix, helping them achieve their goals and grow their business.

When asked to explain the value of ‘closing periods’ in the accounting ledger, which is a functionality that Enfusion offers, Andrew Weinstein said: “Closing periods are important because they prevent unauthorized changes to the books and records after they are locked. This is a best practice for hedge funds. I always ensure that we lock the books on a monthly basis using Enfusion.”

Andrew Weinstein then commented on how close his shadow book is compared to their fund administrator. Andrew says Enfusion allows him to break out the accounts in more detail, such as money markets and T-Bills. “Enfusion is much more detailed, and our net asset values (NAVs) are generally closely aligned with our fund administrator’s P&L. We do transaction reconciliation daily using Enfusion, ensuring our cash and investment values are aligned. I expect to identify all differences at month end because of what Enfusion allows us to do on a daily basis,” said Andrew.

Enfusion is a powerful and versatile platform that helps commodity trading firms like Quantix achieve their goals and grow their business. Enfusion is more than a vendor; it is a partner that understands the needs and challenges of the industry and provides solutions that work. If you want to learn more about how Enfusion can help your firm, please read our clients’ stories or contact us.