Hedge Fund Awards 2014

Penny’s open architecture and proven features easily in- tegrate with portfolio accounting and customer relation- ship management systems, data warehouses and in-house proprietary solutions. It is tailored to the specific needs of leading hedge funds, fund of funds, private equity firms, fund administrators and management companies and with AUM ranging from $50m to $60bn. The Ingenious Initiatives organization comprises a remark- able group of hedge fund accounting veterans that give it the expertise to develop software in a way that cannot be matched by its competitors. The team’s deep understanding comes from real-world ex- perience: CFO of a large hedge fund group, controller of a private equity organization, lead developer for a major fund administrator and more give the team an unrivalled ability to create flexible, user-friendly, automated solutions for the demanding back-office alternative investment en- vironment. Founder Ron Kashden explains: “A big factor in our contin- ued success is the analysis that goes into the product design process. We begin with our constant review of regulatory literature and trade publications, as well as ongoing com- munication with our clients and exposure at industry events. 2014 International Hedge Fund Awards Penny® – It Works “When we uncover a need, whether as a result of new reg- ulations or a request from a client, we gather our experts together to determine what the underlying purpose of the request is and how that might morph in the future. This deep analysis allows us to create a more holistic solution that goes beyond superficial answers. “We endeavour to enhance our product so that it not only solves today’s needs, but is flexible enough to handle to- morrow’s anticipated problems. Being recognized by one of the industry’s leading publications has reaffirmed In- genious Initiatives’ vision that investor accounting does not have to remain in the backwaters of manual spread- sheets.” Reflecting on 2013 Mr Kashden says: “Our biggest achievements were the release of two enhancements. The first, a workflow module that lets you break down tasks into individual steps, gives supervisors a glanceable screen of the fund’s overall status. “The module also takes the additional leap of automatically checking off steps as they are completed, thus freeing us- ers from the burden of updating their status and allowing them to focus on their work. The second enhancement was the regulatory reporting framework, which not only fulfils today’s regulatory reporting, but also has the flexibility to anticipate future requirements.” Looking ahead, Mr Kashden predicts: “Regulatory report- ing and shadow accounting will grow in significance as regulatory agencies are no longer satisfied with just portfo- lio reporting. FATCA, AIMFD, and form PF have shown that those agencies will look more into investor calculations. “These governmental demands will add to the strain of firms that don’t have a robust in-house reporting frame- work, furthermore investor-lead demand to extend the rigorous review of outsource administrators to encompass income allocations and fee calculations will strengthen. Ernst & Young’s Global hedge fund survey of 2012 proved prescient in its prediction that the 23% increase in shadow accounting will grow.” Ingenious Initiatives (formerly known as TKS Solutions, LLC) is the firm that brings you the acclaimed software, Penny® – It Works (Penny). It is a registered Microsoft partner offering specialized partnership and shareholder accounting solutions for the financial industry. Penny is used to manage more than 640 funds with more than $450bn in AUM, providing automated and instant access to detailed investor data. Hedge Fund Accounting Software of the Year - USA Fact File Company: Ingenious Initiatives Name: Ron Kashden Email: [email protected] Web Address: www.ingeniousInitiatives.com Address: 100 South Bedford Road, Suite 340, Mt. Kisco, NY 10549 Telephone: 914-358-0016 A big factor in our continued success is the analysis that goes into the product design process. We begin with our constant review of regulatory literature and trade publications, as well as ongoing commu- nication with our clients and exposure at industry events. 31 www.acquisition-intl.com