Some of our Case Studies

Client Overview

An asset manager embarked on the launch of two pioneering publicly-traded long-only ETFs, targeting global and U.S. market segments.

The Challenge

The client aimed to establish a robust infrastructure to support their latest business line. The portfolio manager emphasized the need for a user-friendly system capable of portfolio rebalancing and modeling. Simultaneously, the CFO stressed the importance of an integrated workflow spanning from the front to the back office. Additionally, the client sought a scalable reporting platform enabling advanced reporting features beyond standard reporting.

The Solution

After thorough evaluations of leading providers, the client chose Nirvana for its comprehensive suite of solutions:

Integrated Platform: Nirvana offered an integrated PMS, OMS, data reconciliation, and portfolio accounting platform, addressing the diverse needs of the client's operations.

Robust Reporting: Nirvana's reporting platform facilitated real-time access to performance data and reports for the client's Sales and Investor Relations teams. Its user-friendly interface allowed for advanced reporting features, including performance contribution analysis, ensuring comprehensive insights for decision-making.

Outcome

By partnering with Nirvana, the asset manager successfully launched their funds with efficiency and agility. Nirvana's solutions enabled them to achieve a competitive price point while establishing a scalable infrastructure for future growth. With streamlined operations and advanced reporting capabilities, the asset manager positioned themselves for success in the dynamic landscape of asset management.

Case Study: Empowering Growth and Efficiency with Nirvana Solutions

The Challenge

A prominent Administrator found themselves at a crossroads. With their client base expanding rapidly, they faced the pressing need for a robust and scalable reporting solution. Their requirements were clear:

1. Workflow Automation: The need to streamline and automate workflow processes to handle increased demands efficiently.
2. Comprehensive Reporting: They sought a system capable of providing flexible and comprehensive reporting solutions tailored to meet the needs of their diverse client base.
3. Timely Delivery: Ensuring timely and accurate delivery of both daily and monthly reports to maintain client satisfaction.
4. Cost Optimization: An imperative to optimize operational costs without compromising on service quality.

The Solution

Nirvana's suite of products and services emerged as the ultimate solution to the Administrator's challenges. With a focus on scalability, efficiency, and cost-effectiveness, Nirvana addressed these challenges through a strategic approach:

1. Leveraging the Nirvana Data Hub: The first step involved harnessing the power of the Nirvana Data Hub, equipped with out-of-the-box connectivity to Prime Brokers and Custodians. This enabled seamless automation and capture of transaction data across multiple entities, ensuring scalability without compromising accuracy. Moreover, the Data Hub facilitated reconciliation and normalization of data, laying the foundation for streamlined downstream processing.
2. Nirvana Fund Accounting Engine: Managing Corporate Action management, accounting operations, and the generation of essential client reports became effortless with the Nirvana Fund Accounting Engine. This robust engine not only ensured accuracy but also enhanced operational efficiency, enabling the Administrator to meet client reporting requirements promptly and effectively.
3. Nirvana TOUCH Offering: For seamless report delivery, the Nirvana TOUCH offering was white-labeled, allowing personalized delivery of reports to all of the Administrator's clients. This enhanced client communication and satisfaction while maintaining brand consistency, further solidifying the Administrator's market position.

Outcome

Through strategic collaboration with Nirvana, the mid-sized Administrator successfully transformed their operations. Empowered with scalable infrastructure, streamlined workflow processes, and cost-effective solutions, they now compete effectively with larger fund administrators in the market. By embracing Nirvana's innovative approach, the Administrator not only met but exceeded the expectations of their expanding client base, paving the way for sustained growth and success in the dynamic financial landscape.

Client Overview

Our client, a global hedge fund boasting over $ billion AUM, manages diverse funds across multiple prime brokers, showcasing a dynamic and expansive portfolio.

The Challenge

The client grappled with a legacy accounting system characterized by a cumbersome trade workflow, ill-equipped to handle the increasing complexity of their expanding assets and funds. Their imperative was clear: they needed an OEMS to:

- Streamline trade operations.

- Efficiently route trades to multiple brokers using broker Algos.

- Implement pre- and post-trade compliance rules.

- Facilitate real-time portfolio management.

- Seamlessly integrate with their existing accounting system without disrupting a platform holding a decade's worth of historical data.

The Solution

Nirvana's modular design emerged as the optimal solution to address the client's multifaceted challenge. By integrating Nirvana's robust OEMS with their existing portfolio accounting system, the client unlocked a myriad of benefits:

Enhanced Workflow Optimization: The integration allowed for seamless routing of trades to multiple brokers, leveraging broker Algos, thereby optimizing the trade process and achieving best execution.

Automated Allocations: Nirvana's OEMS facilitated automated allocations across multiple vehicles and counterparties, streamlining trade operations from front to back office.

Compliance Implementation: Pre and post-trade compliance rules were seamlessly implemented, ensuring regulatory adherence and risk mitigation in real-time.

Real-Time Portfolio Management: The client gained access to real-time portfolio management capabilities, enabling swift and informed decision-making.

Non-disruptive Integration: Crucially, Nirvana's solution seamlessly integrated with the client's existing accounting system without disrupting the platform housing a decade's worth of historical data, ensuring continuity and data integrity.

Outcome

Through the implementation of Nirvana's modular OEMS integration, the global hedge fund successfully navigated the complexities of their trade operations while bolstering efficiency and compliance. This strategic partnership empowered the client to optimize their workflow, adapt to evolving market demands, and maintain a competitive edge in the dynamic landscape of hedge fund management.

Client Overview

Our client is a prominent global multi-strategy long/short hedge fund managing assets across three funds and four Separately Managed Accounts (SMAs). With a strong track record and a growing investor base, the fund sought to optimize its operational infrastructure to accommodate its expanding portfolio and investor demands.

The Challenge

Despite its success, the client faced significant challenges with its existing operational setup, primarily revolving around a legacy Order Management System (OMS) from a renowned provider. This system proved to be operationally inefficient, requiring manual reconciliation and accounting processes, and was prohibitively expensive to maintain. Moreover, it lacked the scalability necessary to support the fund's growth trajectory effectively.

The Solution

Recognizing the need for a transformative solution, the client turned to Nirvana's integrated, cloud-based front-to-back workflow platform. This comprehensive solution replaced the legacy OMS and introduced a full shadow accounting system, all consolidated within a single database. The implementation of Nirvana's platform not only automated reconciliation processes but also upgraded service capabilities, significantly enhancing operational efficiency.

According to the client's CFO, Nirvana's solution facilitated operational scalability to such an extent that the fund was able to grow its assets and handle multiple customized SMAs without increasing operational headcount, all while reducing spending.

Key Solutions Implemented

1. Cloud-Based OMS
   Nirvana's cloud-based OMS streamlined the fund's investment process, integrating front, middle, and back-office functions onto a unified platform. Additionally, the application effectively managed complex pre-trade compliance rules across various accounts, ensuring regulatory adherence.
   
2. Data Management
   Leveraging Nirvana's data management service, the client realized significant time savings, with automatic reconciliation of positions, trades, and cash, saving 20-40 man-hours per week. Expert data oversight was provided without the need for additional hires, further optimizing operational efficiency.
3. Shadow Accounting and Reporting
   Nirvana's General Ledger offered portfolio accounting with comprehensive shadowing of the fund's business activities across multiple funds and counterparties. Moreover, Nirvana's reporting capabilities satisfied diverse stakeholder needs, including investors, C-level executives, and portfolio managers.

Outcome

By partnering with Nirvana and implementing their cloud-based solutions, the hedge fund achieved remarkable improvements in operational efficiency and scalability. Automation of key processes, coupled with enhanced data management capabilities, enabled the fund to streamline operations, reduce costs, and accommodate its growing investor base and portfolio complexities effectively. This successful transformation solidified the fund's position as a leader in the global hedge fund industry.

Client Overview

Our client is a large brokerage house operating within the prime brokerage sector, offering comprehensive services to hedge funds across various stages of development, from emerging to established managers. Their clientele encompasses a diverse range of investment strategies and portfolios.

The Challenge

As a full-service prime broker, our client faced a multitude of complex needs. These ranged from fundamental prime brokerage reporting to intricate back-office operations, premium reporting services, and the establishment of a customized web portal. The challenge lay in fulfilling these diverse requirements efficiently while ensuring seamless service delivery to both external clients and internal stakeholders.

The Solution

After thorough evaluation, the prime broker opted for Nirvana's cloud-based platform to address their multifaceted challenges. Nirvana's platform stood out for its robust data management capabilities, comprehensive shadow accounting system, and advanced premium reporting features. By leveraging Nirvana's middle and back office solutions, the prime broker was able to effectively cater to the demands of their clientele while simultaneously streamlining their operations for scalable growth.

Nirvana's tiered offering proved instrumental in tailoring solutions to the specific needs of each client. From emerging managers seeking basic reporting services to larger firms looking to replace costly, well-known providers, Nirvana's platform provided a streamlined alternative that effectively served the requirements of front, middle, and back-office operations alike.

Outcome

By implementing Nirvana's cloud-based platform, the prime broker achieved significant improvements across various facets of their business operations. They were able to enhance client satisfaction by delivering tailored solutions, optimize internal workflows for greater efficiency, and reduce costs associated with legacy systems and providers. Additionally, the hosted, branded web portal facilitated seamless communication and collaboration between the prime broker and its clients, further solidifying their position as a leading player in the prime brokerage space.

Client Overview

Our client is a comprehensive Asset Manager overseeing both listed Mutual Funds and several Separately Managed Accounts (SMAs), in addition to managing a Hedge Fund across multiple Prime Brokers and Custodians. With a diverse international portfolio and complex operational requirements, the client faced significant challenges in meeting internal and external demands efficiently.

The Challenge

As the complexity of their operations grew, our client encountered obstacles across various workflows. Maintaining internal cost structures while managing asset growth became paramount, especially with their existing Back Office/Reporting provider imposing escalating fees based on Assets Under Management (AUM). Additionally, the client sought to avoid disruptions to their trading workflow, as their legacy Order Management System (OMS) continued to function effectively.

The Solution

Following a thorough consultation and evaluation process, the client opted for Nirvana's comprehensive solution to replace their current provider. Nirvana's implementation encompassed full end-to-end T+1 Back Office services and reporting overlay. The transition involved historical data conversion, consolidating all data onto a single platform for enhanced efficiency.

Nirvana managed all aspects of data aggregation, fund accounting, shadow NAV, and reporting. This included daily standard reports, custom performance reports, and critical accounting reports such as Balance Sheet, Profit and Loss, and Trial Balance. Moreover, Nirvana seamlessly integrated with the client's legacy OMS system, providing daily Start of the Day (SOD) reports to ensure continuity in trading workflows.

Outcome

By leveraging Nirvana's cloud-based platform, the client achieved significant efficiency gains across their operations, accompanied by over 60% cost savings compared to their previous vendor. With Nirvana's follow-the-sun support model, all daily and month-end deadlines are consistently met, ensuring seamless operations and client satisfaction. The successful implementation of Nirvana's solutions has empowered the client to navigate complex workflows with ease, solidifying their position as a leader in the asset management industry.