Metori Capital is a privately owned, pure-play quantitative fund manager based in Paris. The firm uses a systematic trading strategy for capturing up or down trends across all asset classes. It manages a proprietary statistical model (“Epsilon”) that estimates trends, volatilities, and correlations, and manages diversification and turnover. The model is applied to different funds and managed accounts, with various trade universes and risk levels. Its client base consists of institutions and wealth managers in Europe and North America.

As a hedge fund manager, Metori faced several challenges in its middle- and back-office functions and workflows. They needed a solution to handle all listed futures trades, reconcile positions and trades with clearing firms, and perform back-office checks on positions and P&Ls. They also needed a solution to support their subscription and redemption processes.

Metori chose Enfusion, a SaaS-native, front-to-back platform that provides solutions and services for hedge funds, traditional asset managers, and asset owners. Enfusion helped Metori increase middle- and back-office efficiency and provided them with a dedicated team that acted as an extension of their own firm. In addition, they seamlessly pull data from Enfusion into their in-house book-keeping platform via API.

Data migration was Metori’s biggest implementation challenge. Enfusion’s data migration process allowed Metori to handle different funds, setups, and administrators. Enfusion complemented the process by ensuring the data was clean, accurate, and consistent and communicating directly with the administrators. The result was a complete set of clean recs and NAV calculations at launch time.

“Getting reports on demand from the administrators, and building interfaces for a variety of setups, were challenging. Enfusion has been a reliable partner throughout the process,” said Sylvie Lachaud, Head of Operations, at Metori Capital.

Enfusion Managed Services continues to support Metori on an ongoing basis. The Managed Services team handles all reconciliations with the clearing firms and back-office checks on positions and P&Ls. Metori can count on a dedicated Enfusion team to solve daily issues such as breaks. Their team also helps them with launching new funds and by implementing new reports on the Enfusion app.

“We’re very satisfied with what Enfusion is doing for us. They do position trades and P&L on the clearing side and back-office checks on positions and P&Ls… We know all the trading fees are correct, and the data quality is much better…They always look for a solution, whatever I ask. I know they will try to move mountains to find a solution,” said Lachaud.

Laurent Le Saint, Managing Partner, added: “What we like is the efficiency of the team at Enfusion. They are actually an extension of Metori Capital Management, running our middle-office desk. And all the key functions of that middle office are performed in a very professional manner. We have the peace of mind of having some critical tasks performed by people who know what they are doing, and we have reliable processes.”

Using Enfusion allows Metori to focus on high-value front-office tasks. Enfusion enables them to spend less time on the middle and back office functions and more time on their investment model and strategy.

Said Le Saint, “We end up with a middle office that works, which saves us a lot of time. And which is a good interface between our front office, fund administrators, and custodians. The main purpose for us is really to spend most of our time on managing money and to have a professional team taking care of what we prefer to delegate.”