Maples Finance, the fund administration services firm for onshore and offshore vehicles, has signed up to using Advent Software’s portfolio management and fund accounting service, which is called Geneva.

Geneva will serve as the firm’s platform for servicing multiple managed accounts and managers on behalf of investors.

During the market turmoil of 2008, many investors experienced large losses and liquidity issues in their alternative investment portfolios. Since then, they have been rethinking their hedge fund exposure and looking at managed accounts as an alternative route. Through managed accounts, investors can pursue hedge fund strategies, but their assets are not commingled with those of others. Investors view managed accounts as offering greater control, transparency and liquidity.

Administering a platform of multiple hedge fund managers, however, poses operational challenges, which is why Maples Finance chose the Geneva system, according to Advent in a statement.

Maples Finance has offices in financial centres including Montreal, Dubai, Dublin, London, Luxembourg, Hong Kong, New York and the Cayman Islands.