Principia Adds Lewtan Performance Data for ABS Transparency
Principia Partners, the New York-based software provider for management and administration of structured finance portfolios, will provide a greater level of transparency of asset-backed securities (ABS) to its investor clients. Principia announced today it partnered with Lewtan, an ABS performance data and analytics provider for the global securitization industry, to add ABSNet performance data via the Principia Structured Finance Platform (Principia SFP). The partnership integrates Lewtan’s performance data covering more than 20,000 global structured finance deals into Principia’s operational platform. Access to this combination of asset performance data within Principia’s infrastructure allows organizations to model their portfolio of structured finance and fixed income assets, along with their associated derivatives and funding products, according to a press release from Principia. “The provision of detailed deal structure information, ongoing analytics and performance data has always been the focus of the ABSNet solution,” said Ned Myers, chief marketing officer of Lewtan. "We can now see the regulatory and investor community in the securitization market recognizing the need for this level of independent deal analysis. This combined solution delivers the transparency to drill-down into individual deals, within a system that encompasses overall market and credit risk analysis." Lewtan’s current and historical deal performance statistics are fully incorporated into Principia SFPs standard portfolio composition reports, deal reports and compliance engine. Principia said this allows investors to track the more than 100 performance variables monitored by Lewtan from within the system. These measurements are augmented with the ability to track standard performance metrics and other asset information available through Principia SFP. Limits can then be set to maintain compliance, perform rigorous stress tests and deliver timely reports regarding asset performance at the portfolio, deal, tranche or collateral level, Principia said. Write to Diana Golobay.