European Investment Manager, Veritas Asset Management, Broadens Reach with Advent
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(0)Overview: Veritas Asset Management implemented APX and Moxy in 2007. “We chose the products in tandem because they spoke to each other in a very efficient manner, giving us a harmonized process for the trade order management flow. Plus we felt having Moxy would bring its own efficiencies,” says Mr. Spence. One key benefit is that by having trade orders in one place the firm can track each transaction within Moxy. In addition, a considerable chunk of its assets are in mandates with Asian equity exposure. So any transactions done in Asia in the morning can be closed off and allocated from Moxy at midday UK time, thereby providing the fund manager with a nearly instantaneous P&L for the portfolios, instead of waiting for APX’s close of business valuation, Mr. Spence explains.
