Enfusion - Competitors and Alternatives

Are you considering Enfusion alternatives for your investment management needs? We take a look at some competitors to Enfusion, to help you shortlist who to potentially include in an evaluation.

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Limina IMS

The team behind Limina are former hedge fund managers. We’ve not just faced the heat of the markets - but also the challenges of selecting the right investment management platform. Having been in your shoes, we've created this guide to help make your decision easier.

Limina is a web-based investment management platform that is often a powerful alternative to Enfusion. We will not include Limina from this list below, since we're naturally biased when talking about ourselves. If you’d like to learn more about Limina, here are some resources that you might find helpful:

Buy-side system examples, from best of breed to front to back

Note: Vendor information in this article is based on company websites, industry publications and online review sites such as G2, Gartner, TrustRadius and Capterra. Such pages have been reviewed in June 2024 as a basis for this article.

About Enfusion

Enfusion’s front-to-back-office software covers a wide set of functionality, covering features from order raising to shadow NAV. It was initially built for hedge funds. As such, it covers a wide range of asset classes and was initially built for simple order raising workflows (e.g. single order and strategy trades). In recent years, workflows for model portfolios, benchmarks and rebalancing has been developed.

A natural strength of Enfusion is its end-to-end workflows across the full investment lifecycle. This is thanks to most functions being covered in the single system.

The system’s core architecture is multi-tenant. The main disadvantage of this approach is that data isn't isolated between you and other investment managers (shared database).

Best Enfusion Alternatives

Below are four competitors to Enfusion, listed in alphabetical order.

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Bloomberg AIM

Bloomberg AIM (part of Bloomberg buy-side solutions and PMGO) is an order management system. It provides a suite of capabilities for rebalancing, pre-trade compliance, and post-trade processing.

AIM is embedded in the Bloomberg Terminal, which means it connects to market data readily available to terminal users. The flipside is that AIM doesn't as natively interplay with data sources or execution management systems from other vendors.

AIM integrates with other Bloomberg products (such as TCA & risk analytics), but such integrations are also possible for other providers (such as Enfusion). In other words, such connectivity isn't a proposition unique to AIM.

Timeline of Investment Management System launches

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Broadridge

Paladyne was acquired by Broadridge in 2011, just six years after founding. It built and delivered a solution primarily to hedge funds, similar in scope to Enfusion. 

Broadridge has since rebranded the offering at least once, and it's not apparent from online sources what product is available for new clients nowadays.

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CRD

Charles River Investment Management System (CRIMS) is a strong platform, especially for the Front Office. It has sophisticated order and execution management features. The execution management system connects to trade venues and liquidity providers for effective execution.

The platform is used by some of the largest asset managers in the world. Some online comments note long implementation times as a concern.

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 SS&C

SS&C has many products that could compete with Enfusion (and themselves at times). The first is Eze OMS (Order Management System) and Tradar (Portfolio Accounting), two products initially created to service hedge funds. Eze OMS and Tradar have been integrated with realtick (Eze’s EMS) to create the Eze Investment Suite. This integrated solution

In 2018, SS&C acquired Eze Software from TPG for $1.45 billion. SS&C already owned Advent, which has solutions that partly overlap with Eze. Nowadays, there is also a solution called Aloha available from SS&C, and they have a web-based tool called Ecplise.

From online sources, it appears unclear which respective product is suited for which type of investment manager or use case.

 

Wrap up

Choosing the right investment management platform is an important decision. Choosing the right one for you will ensure operational efficiency gains for years to come.

Some systems will hold you back when you grow and evolve, while some have been specifically designed to help you stay as nimble as possible. Explore how Limina can help you stay flexible here.

See Limina’s Solution in Action

 

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