Butterfield Fulcrum has announced the launch of Altinus, an independent, managed accounts platform with a common set of tools for operations, administration and risk monitoring.

The platform will represent the next generation for managed accounts, providing an advanced operational and technological infrastructure that complements the investment management services provided by an asset allocator.

"Altinus is the first ever administrator sponsored managed accounts platform, and is based on 10 years of managed account operations experience," said Akshaya Bhargava, Butterfield Fulcrum's CEO.

"It is designed to eliminate service and fee duplication by allowing allocators to determine investment allocation, while enhancing their portfolio management through robust, daily operational and risk monitoring and leading-edge analytical tools."

Altinus connects the communities of alternative investment asset allocators with high quality hedge fund managers, providing an accessible and cost-effective solution for investment through managed accounts.

Butterfield Fulcrum was assisted by MAG Consultancy on the design and construction of the platform.

"Considering the large number of asset allocators looking to utilise managed accounts as a method of resolving the governance issues that were so harshly exposed during 2008, it has become increasingly clear that the administrators are very well placed to be the sponsors of a new breed of more efficient managed account platform," said John Godden, managing partner at MAG Consultancy.

"We are delighted to be associated with the Altinus platform and see it as moving the game on significantly with its marriage of leading-edge technology, institutional quality governance and real independence."

The Altinus solution also comes with pre-selected, top tier service providers. The common architecture for legal, audit, custody and administration, plus extensive availability of prime brokers to match the flagship fund, dramatically reduces implementation time and cost, and allows for rapid deployment of capital and on boarding of managers.

"We have listened to our client base of over 700 funds and invested considerably in a platform that addresses what we believe to be a long-term structural change in the industry," said Jill Considine, Butterfield Fulcrum's chairman. "We believe Altinus will transform the way both allocators and managers are able to access managed accounts."