European hedge fund selects Canadian software

Date: Wednesday, August 13, 2008
Author: Advisor.ca

European hedge fund giant BlueCrest Capital Management has announced that it has adopted Toronto-based Algorithmics' Algo Risk Service for its risk management practice.

"We are delighted to be working with BlueCrest in providing a customized risk service to meet their specific multi-strategy requirements," said Dr. Andrew Aziz, Algorithmics' executive vice-president of risk solutions. "We are providing them with a flexible and dedicated risk management service without the overheads normally associated with such coverage, processing power and support."

Algo Risk Service allows investment managers to analyze and quantify the risks across portfolios. The service can assimilate the risk profiles of new instruments that can be incorporated into portfolios for stress testing against a customized set of risks.