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ProFunds Chooses SS&C for Bitcoin Mutual Fund Risk Management

SS&C Technologies Holdings, Inc. announced that ProFunds, a premier provider of a diverse lineup of mutual funds, has appointed SS&C to provide 18f-4 risk analytics for its BitCoin Strategy ProFund (BRCFX). BTCFX is the first publicly available U.S. mutual fund whose investment results generally correspond to the performance of bitcoin, before fees and expenses.

“We were looking for a risk analytics partner to help us develop a robust risk analytics model for 18f-4 compliance for the ProShares Bitcoin Strategy ETF and Bitcoin Strategy ProFund,” said Ramesh Babu, Chief Technology Officer, ProShare Advisors. “SS&C delivered quickly and provided a cost-effective and efficient solution.”

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The SS&C Algorithmics Managed Data and Analytics Service (MDAS) will provide advanced market risk analytics to help ProFunds comply with the Securities and Exchange Commission Rule 18f-4. The rule requires registered fund providers to perform risk calculations for derivatives instruments starting in 2022. SS&C Algorithmics’ advanced risk analytics can support multiple derivative instruments across asset classes, including crypto-related investments. Additionally, MDAS easily integrates with accounting and reporting engines used by ProFunds and ProShares, including SS&C Geneva.

“We are pleased to partner with ProFunds in the launch of the first-ever U.S. mutual fund focused on bitcoin,” said Mina Wallace, General Manager of SS&C Algorithmics. “Our customers look for innovative ways to provide investors with opportunities to participate in the cryptocurrency market through standard regulated methods. We look forward to supporting them with robust, scalable and efficient risk management tools.”

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