- In the news release, "Plainfield Asset
Management Selects Algo Risk" scheduled for release on 21 Jun 2005
08:00 GMT, by Algorithmics Incorporated over PR Newswire, we are
advised by a representative of the company that the release was to be
distributed in English ONLY. Complete, corrected release follows:
Algorithmics Incorporated, an international leader in enterprise
risk management solutions, today announced that Plainfield Asset
Management LLC has signed for the Algo Risk solution.
An emerging US hedge fund with significant management experience
and unique multi-faceted focus on distressed and special debt
opportunities, Plainfield Asset Management's accurate measure and
analysis of portfolio risk is a core part of its investment process.
"Strategic risk management is one of the foundations of our
business," said Max Holmes, Plainfield's Founder and Chief Investment
Officer. "Algorithmics' leading analytics and multiple delivery
options are designed to ensure we can maintain excellence in risk
management while scaling our system to meet current and future
Algo Risk is the financial risk management solution of choice for
an increasing number of buy-side institutions including asset
managers and hedge funds. Algorithmics has secured over 17 buy-side
clients for this innovative and flexible solution since its launch in
"Greater transparency and a strategic approach to risk within the
investment process are becoming core demands of institutional
investors and regulators," said Dr. Andrew Aziz, Managing Director,
market risk and buy-side solutions at Algorithmics. "Innovative,
growth-oriented hedge funds such as Plainfield Asset Management are
embracing actionable risk management based on leading-edge analytics
and flexible delivery options."
Algo Risk enables portfolio managers, traders, risk managers and
quants to measure, monitor and manage investments from both decision
support and risk oversight context. Algo Risk is supported by a wide
range of advanced portfolio/risk analytics, valuation methodologies
and scenario generation techniques and can be used to support both
investment decisions and risk oversight. The solution's underlying
Mark-to-Future architecture is both asset class and risk factor
agnostic, enabling the solution to span all holdings and investment
strategies across the enterprise. In addition, the architecture
enables the solution to be deployed as either an in-house
implementation or as an outsourced offering provided through
Algorithmics' hosting partners, Bloomberg via an ASP and Cicada Risk
through a managed service.
Founded in 1989, Algorithmics is a recognized leader in enterprise
risk management. Following its acquisition by the Fitch Group in
January 2005, Algorithmics is the world's leading provider of
enterprise risk management solutions and services that enable
financial institutions to effectively understand and manage their
financial risk. Algorithmics has over 200 clients, including more
than 60 of the 100 largest financial institutions in the world.
Algorithmics was recently recognized as the dominant enterprise risk
solution provider in market, credit and operational risk in Risk
Magazine's 2004 Technology Rankings.
About Fitch Group
Fitch Group is the parent company of Fitch Ratings, a leading
global rating agency committed to providing the world's credit
markets with accurate, timely and prospective credit opinions. Fitch
Ratings is dual-headquartered in New York and London, operating
offices and joint ventures in more than 50 locations and covering
entities in more than 80 countries. Fitch Group is a wholly owned
subsidiary of Fimalac, S.A., an international business support
services group listed and headquartered in Paris, France.
ALGO, ALGORITHMICS, AI & design, MARK-TO-FUTURE, ALGO CAPITAL,
ALGO COLLATERAL, ALGO CREDIT, ALGO MARKET, ALGO OPVANTAGE, ALGO RISK,
and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.
ots Originaltext: Algorithmics Inc.
Im Internet recherchierbar: http://www.presseportal.ch
For further information: Kevin Ellis, Senior Manager Communications,
Algorithmics, +1-416-217-4321, email@example.com