Washington, DC (PRWEB) January 8, 2010
Managed Funds Association (MFA), the leading association of the alternative investment industry, today announced it will launch an initiative to gather information from hedge funds, funds of funds and managed futures funds, for use in its industry education and advocacy efforts using PerTrac P-Card. P-Cards are secure email attachments that can contain an array of manager-designated data such as strategy descriptions, investment terms, portfolio exposure data and investment returns.
Richard H. Baker, MFA President and CEO, said, "As the primary source of industry information for policy makers, the media and the public, it's important that we collect and aggregate data in a confidential and timely manner from as many managers as possible. Following a lengthy search, MFA has selected PerTrac Financial Solutions as its partner in order to collect basic industry data, such as assets under management, the number of existing funds and number of industry-wide employees, while allowing managers to retain confidentiality. PerTrac P-Card is a secure tool that we will use to gather and aggregate information that will allow us to better understand and represent the global alternative investment industry. In addition, P-Cards have utility outside of MFA's efforts, allowing for and encouraging increased and more frequent communication and transparency between managers and investors, which is a key goal of MFA."
MFA will share information on the industry solely on an aggregated basis in an effort to educate policy makers, the media and the public and to advocate for appropriate regulation and industry growth. MFA will use a third-party accounting firm to collect the data on its behalf. No fund-specific information collected via PerTrac P-Card, including fund names, will be released under any circumstances.
Gerry Mintz, PerTrac President and CEO, said, "PerTrac P-Card is a revolutionary tool which allows fund managers to communicate information to investors confidentially and directly using a secure e-mail attachment. More than 110 funds around the world have already registered to use P-Cards to keep their investors and prospects up-to-date on qualitative, performance and risk information. We are excited that MFA has chosen PerTrac P-Card as its preferred method of fund data collection, as it will help accelerate the adoption of this exciting new technology. As adoption increases, the alternative investment community will benefit from improved and more efficient transparency, and we are delighted that the MFA is leading the industry towards this critical goal."
About Managed Funds Association
MFA is the voice of the global alternative investment industry. Its members are professionals in hedge funds, funds of funds and managed futures funds, as well as industry service providers. Established in 1991, MFA is the primary source of information for policy makers and the media and the leading advocate for sound business practices and industry growth. MFA members include the vast majority of the largest hedge fund groups in the world who manage a substantial portion of the approximately $1.5 trillion invested in absolute return strategies. MFA is headquartered in Washington, D.C., with an office in New York. For more information, please visit: http://www.managedfunds.org.
PerTrac Financial Solutions was founded in 1996 with the goal of creating a comprehensive suite of software solutions for investment professionals. Now an industry standard, PerTrac software is used by more than 2,000 clients in 50 countries, including banks, brokerage firms, consultants, plan sponsors, family offices, investment managers and funds of funds. The company's flagship product, the PerTrac Analytical Platform, is now the world's leading asset allocation and investment analysis software, used by approximately 1,700 firms worldwide. PerTrac CMS, which was part of its January 2006 acquisition of Whittaker Garnier, is another major component of the PerTrac Suite. PerTrac CMS is the investment industry's leading tool for managing the client relationships and workflows associated with capital raising, investor relations, and investment management, and is used by nearly 300 alternative investment firms around the world. In January 2008, PerTrac announced the release of PerTrac Portfolio Manager, a unique software application designed to help funds of funds and institutional investors create, monitor and manage multi-manager portfolios of alternative investments. PerTrac P-Card, released in November 2008, is a revolutionary new investment data distribution and collection platform, which gives managers and investors the tools they need to share sensitive information directly, electronically and securely. PerTrac Financial Solutions is headquartered in New York with offices in London, Hong Kong, Tokyo, Reno, and Memphis. For additional information on the full suite of PerTrac products, please visit http://www.pertrac.com.