Asset management and fund administration software

The system a fund runs on, from every position to the investor's report

Take the software engineer in Pune from Market Segment 20.1, Exchanges, clearing and trading platforms. Besides her ten shares, she puts ₹5,000 into a mutual fund every month. The fund pools her money with that of millions of other investors, and a fund manager decides what to buy with it. The company that runs the fund is called an asset manager.

Behind every asset manager sits one system that its investors never see. So do pension funds and the investment arms of insurers. The system does five jobs:

It holds every position

each share, bond and other asset the fund owns, and how much of it.

It decides and records every trade

It values the portfolio each day

it works out what everything the fund holds is worth.

It checks the portfolio against the rules

the fund must follow, such as limits on how much it may put into one company.

It produces the accounts and the reports

This Market Segment covers the companies that sell that system. It is one of the places where India's role is largest. Two of the world's biggest investment-management software companies do much of their engineering in Delhi NCR and Hyderabad.

Every company named here has posted software engineering jobs in India. Famous companies that don't actively hire software engineers in India are left out.

This Market Segment has two sub-segments:

The asset manager's system: for the funds that trade shares and bonds listed on exchanges

Private markets and fund administration: for the private-equity, venture and credit funds whose assets do not trade on an exchange

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The asset manager's system
Private markets and fund administration

The asset manager's system

Investment management systems, investment accounting and reporting, post-trade operations and data, wealth operations

Back to the engineer's ₹5,000 from the start of this Market Segment. Her fund company needs a system like the ones here to hold, trade, value and check what the fund owns.

SimCorp

has engineers in Delhi NCR and Hyderabad, and the most job postings in this Market Segment. It sells SimCorp Dimension, the investment management system of many of the world's large asset managers, pension funds and insurers. It runs front to back: from placing the order to doing the accounts. It includes Axioma's risk models, which estimate how much a portfolio could lose. SimCorp is owned by Deutsche Börse.

Clearwater Analytics

with engineers in Delhi NCR, Mumbai and Bengaluru, sells investment accounting and reporting as a service. It keeps the daily record of what an insurer's or a company's investment portfolio holds, and what it is worth.

Arcesium

with engineers in Hyderabad and Bengaluru, began inside the D. E. Shaw group. It sells a data and post-trade operations platform to hedge funds and asset managers. A hedge fund is a private fund, open only to rich and large investors, that is free to use more kinds of trades. Post-trade operations are the work after a trade: confirming it, settling it and keeping the records. (More on D. E. Shaw in Market Segment 20.4, Hedge funds and high-frequency trading.)

NeoXam

with engineers in Delhi NCR, sells portfolio management, investment accounting and data management to European asset managers.

BetaNXT

with engineers in Bengaluru, runs the operations of American wealth firms: the trading, the settlement and the servicing of their clients' accounts. A wealth firm manages the money of rich individuals and families.

The engineer's ₹5,000 a month goes into a mutual fund, and behind the fund sits one system that holds every position, decides and records the trades, values the portfolio each day, checks it against the rules, and produces the accounts and reports. SimCorp and NeoXam sell systems that cover the whole chain; Arcesium covers data and post-trade operations, and Clearwater Analytics investment accounting and reporting.

Private markets and fund administration

Private markets fund administration and investor reporting, alternative-investment accounting, venture portfolio data, deal data rooms, family office ERP

In Market Segment 20.1, the engineer's start-up employer kept its shareholders in a cap table. Some of those shareholders are venture capital funds, which invest in young companies. Venture capital, private equity and private credit are called private markets, or alternative investments. Their assets do not trade on an exchange. So their funds need a different kind of system, and a lot of paperwork.

Juniper Square

with engineers in Bengaluru, runs the back office of private-markets fund managers. It handles the fund accounting and the capital calls. A capital call is the moment a fund asks its investors for the money they promised, when it is ready to invest. Juniper Square also runs the portal through which the fund's investors see their holdings.

Allvue Systems

with engineers in Pune, sells fund accounting and portfolio management to private-equity and private-credit funds.

Aumni

now part of J.P. Morgan, has engineers in Pune. It turns the legal documents of venture investments into data: the terms of each deal.

Opus Fund Services

with engineers in Mumbai, is a fund administrator for managers of alternative investments. A fund administrator keeps a fund's accounts and records for the manager.

SS&C Intralinks

with engineers in Hyderabad, runs virtual data rooms: secure online folders in which the documents of a merger or a fundraise are shared and negotiated.

Eton Solutions LP

with engineers in Bengaluru, sells AtlasFive. It is the accounting and operations system of family offices, the private firms that manage the wealth of very rich families. It works as their ERP (enterprise resource planning) system.

A private-markets fund makes a capital call, its investors send the money they promised, and the fund invests it in companies such as start-ups. Below each step are the companies on this page whose software serves it: Juniper Square and Eton Solutions on the investors' side, Juniper Square, Allvue and Opus Fund Services for the fund, and Aumni and SS&C Intralinks for the deals.

Private markets made readable.

Private equity, private credit and venture capital now hold a large share of the world's investments. Their records live in documents: the partnership agreements, the quarterly reports and the loan terms. AI models now read those documents and turn them into data. The private-markets companies here are built on that change. So are the valuation companies in Market Segment 20.1, Exchanges, clearing and trading platforms.

That is the system the fund runs on. The engineer's ₹5,000 is held, traded, valued and reported by one system at her fund company. And the start-up that employs her is tracked, deal by deal, in the systems of its private investors.

Who they hire

Who these companies hire, and for what, is on What wealthtech and capital markets hires for.

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