Ex-Arden Asset Management Partner, Chief Risk Officer Unveils Portfolio Risk & Automation Tech for Hedge Funds, Allocators
“In today’s historically volatile COVID-19 markets, never before has the need for automated and contextualized portfolio and risk management information been more critical or more accessible.”
NEW YORK, April 22, 2020 – Everysk Technologies, Inc., an investment technology company providing multi-asset portfolio analytics with data-centric, machine learning techniques, announced today that it closed a $1.3 million seed financing round and is launching a first-ever automation system that brings real-time portfolio and risk management analytics to fund managers of all sizes.
Everysk Portfolio Risk & Automation enables asset managers -- and especially smaller firms -- to instantly establish robust risk processes by tapping into Everysk’s expertise and technology to give them the same sophisticated live reporting and actionable tools employed by top tier hedge funds.
“The stale, static, backward-looking PDF risk report delivered once in the morning is dead,” said Allan Brik, PhD, Chief Executive Officer of Everysk and former Partner and Chief Risk Officer at multi-billion-dollar hedge fund-of-funds Arden Asset Management.
“In today’s historically volatile COVID-19 markets, never before has the need for automated and contextualized portfolio and risk management information been more critical or more accessible,” said Dr. Brik. ”Everysk Portfolio Risk & Automation provides clients with timely insights into investment portfolios and intraday alerts via automated workflows, thus removing operational burdens from investment teams and allowing them to focus on more high impact tasks.”
“With Everysk, you have a digital workforce monitoring your portfolio,” Nick Beattie, CFA, Partner and Head of Business Development at Everysk. Mr. Beattie previously provided portfolio solutions to hedge funds and asset managers at MSCI and Axioma. “For example, the moment a portfolio breaches a risk limit, managers receive an alert detailing the cause along with an optimized trade list to rebalance the fund into compliance. This is done instantly and intraday, helping clients save time and money.”
Everysk provides forward-looking stress testing, factor modelling, and risk attribution for multi-asset, multi-currency portfolios covering 90 exchanges, 200,000 global equities, 40 currencies, government and corporate bonds, derivatives, and private assets.
Long-Short Equity Manager Used Everysk to Avoid Large March ‘20 Downside
“FK Capital uses Everysk’s interactive risk management analytics to monitor portfolio exposures and test appropriate hedges,” said Jorge Finkler, CIO of FK Capital Management, a value-oriented long-short equity strategy. “Everysk allowed us to avoid the significant COVID-19 downside experienced by many other managers in March.”
$1.3 Million Seed Round
Everysk also announced that it has closed its first outside financing, a $1.3 million seed round led by one of the leading family offices globally. Terms of the transaction and identities of the funding sources were not disclosed. The funding values Everysk at $7 million. Proceeds from the funding will be used for general corporate purposes, technology development, product launches, and related efforts.
About Everysk Technologies, Inc.
Everysk is an investment technology company that specializes in generating automated reports which help portfolio managers quickly model the risk and outcomes for a variety of trading scenarios; build robust, customized reports; and receive timely alerts when a portfolio’s risk deviates from given ranges. The platform has been designed from the ground up for efficiency, ease of use, and flexibility. Founded in 2016, Everysk’s clients include global hedge funds, CTAs, family offices, brokerages, online portfolio platforms, and sophisticated wealth managers.
With a team built from market leading hedge funds and analytics providers, Everysk has a deep knowledge of capital markets securities and extensive experience building commercial grade technology. Founding executives have designed institutional portfolio systems to control/monitor $14 billion invested in hedge funds and traded and risk managed fixed income, currency, and commodity portfolios at Goldman Sachs and Merrill Lynch.
Learn More About Everysk!