Enko & Arcfina: Harnessing Technology for Complex Emerging Markets Strategies
Overview
Enko Capital, a leading emerging markets investment firm, manages a derivatives-heavy public debt strategy spanning multiple currencies and instruments. The fund required an integrated platform capable of handling high volumes, complex pricing models, and daily reconciliation with precision and transparency.
With Arcfina, Enko unified portfolio management, risk oversight, and operational control within a single system, eliminating manual shadowing and achieving a scalable infrastructure that supports continued innovation and efficiency.
Key Highlights
- A fully integrated $1bn fund using the Arcfina system, proving Arcfina’s ability to support increased size and complexity.
- Comprehensive support for TRS, CDS, IRS, futures, forwards, options, and repos across 12+ currencies
The Challenge
Managing a multi-currency, derivatives-driven portfolio presents significant operational and data challenges. Traditional portfolio and risk systems were unable to capture Enko’s full complexity without fragmented workflows or manual reconciliations, increasing the potential for data inconsistencies and process risk.
To maintain agility and control, Enko needed a platform designed to manage all asset classes and derivatives within a single environment, while providing real-time transparency into pricing, risk, and operational flows.
The Solution
By migrating to Arcfina, Enko consolidated its operational architecture and gained an intelligent, automation-first infrastructure that delivers:
- Unmatched pricing and analytics: Accurate valuation for complex derivatives such as TRS, CDS, IRS, futures, forwards, options, and repos.
- Calculation transparency: Arcfina’s “blue triangle” explainers provide complete transparency into how any calculation is generated, from the market data points used to a step by step of how the model is working, facilitating rapid identification and correction of data errors.
- Operational efficiency: Automated cash activity and security reconciliation against multiple custodians, with straight-through processing for trade and data flows via Bloomberg, TRADEcho, UnaVista, Traiana, and others.
- Comprehensive P&L decomposition: Granular performance attribution that separates daily, monthly, and annual P&L into market, income, pull-to-par, and FX components.
- Margin projection and cash flow forecasting: Enabling forward-looking liquidity management and capital planning.
- Stress testing and scenario modelling: Supporting both standard and non-linear simulations to model market, credit, and liquidity risk.
Together, these features create an integrated environment that reduces operational overheads and enables the team to manage increasing scale and complexity with confidence.
The Impact
Since adopting Arcfina, Enko has significantly expanded its operational capacity without additional headcount, proof of the efficiency gains enabled by full automation and integration. The team now benefits from real-time visibility across every position and transaction, improving governance, responsiveness, and control. The result is a more efficient operating model where resources can be redirected from process management to strategic decision-making.
The Partnership
Enko’s collaboration with Arcfina extends beyond technology adoption. Senior members of the Enko team have become active participants in Arcfina’s growth, with representation at board level and capital contributions from senior staff. This reflects the deep trust and alignment forged through shared goals: to modernise fund management infrastructure and create lasting operational value for complex investment strategies.
—
Arcfina empowers sophisticated investment teams to master complexity with clarity and control.
Discover how your firm can achieve the same operational edge.