OPERA proocol standardizes the methods of collection, collation, and conveyance of risk information by hedge funds and when integrated with State Street’s risk management platform (TruView), it caters more comprehensive set of risk analytics and a consistent reporting framework for each of their hedge fund investments, claims the US financial services provider.
State Street executive vice president and alternative investment solutions global head George Sullivan said that the company is committed to developing solutions that address the evolving needs of sophisticated asset managers.
"Our OPERA-compliant reporting solution reduces the need for hedge fund managers to produce data in multiple formats, enabling efficiency in risk transparency disclosures," Sullivan said.
The company has availed the services of different hedge fund managers and institutional investors for the development of OPERA, to be able to meet the expectations of industry requirements.
As of 31 March 2011, State Street managed nearly $895bn of alternative assets under administration and offers services pertaining to fund accounting, fund administration, corporate administration, and risk analytics and credit services to institutional investors, hedge fund, private equity and real estate fund managers.
