An integrated risk management system for hedge funds and other asset managers has been launched by La Meer. The product should help fund prepare for expected regulatory demands.

La Meer said Grace - IM software is tailored to mitigate operational risks such as business continuity management, policies and procedures for trading, business operations, risk valuations and outsourcing risks from third-party service providers in line with Basel II-defined categories.

The wider risk aims, said the company, are to continuously and transparently identify, measure and monitor credit, liquidity, counterparty, regulatory compliance, operational, financial and business strategy risks.

The software is based on the best practice principles of the President's Working Group, the Managed Fund Association guidelines for 2009 and guidelines prepared by Alternate Investment Management Association.

The software is in line with recommendations to implement a consistent and enterprise-wide risk management culture for sound governance policies and processes.