Adepa Asset Management SA

Adepa Asset Management SA operates in Luxembourg’s highly regulated investment management environment, where compliance isn’t optional, it’s foundational. Every process must be documented, auditable, and aligned with strict regulatory standards.

Yet before implementing etops Asset Manager Pro, the firm’s operations told a different story.

“Everything was done using Excel spreadsheets and emails, there was no integrated platform,” recalls Charles Ogier, Senior Investment Manager at Adepa. Compliance checks were performed manually. Orders arrived by email, were processed by hand, and forwarded to brokers the same way. The trade blotter lived in Excel.

The consequences were immediate and ongoing: “We had no overview about what was outstanding running at the brokers. We had no real-time compliance checks because there was no way for us to know which orders had been executed and which not.”

Without a centralized platform, the team operated in the dark. By the time they reconciled positions, opportunities had passed. Compliance monitoring happened after the fact, not in real time. Hours disappeared into manual data entry and reconciliation, time that should have been spent on investment decisions.

The challenge was clear: maintain regulatory precision while eliminating operational friction, in an environment where mistakes carry real consequences.

Adepa evaluated multiple solutions. They needed integration, but they also needed something else: a partner who understood their specific market.

The decision came down to three factors:

First: True integration. Not just connected systems, but a genuine single platform. “The fact that it has an integrated platform really helped the responsiveness of the team,” Charles explains.

Second: Responsive support. With larger providers, “you’re just a pebble for them,” Charles notes. Etops offered something different: a support team that responds quickly and collaboratively to development requests and questions. The relationship mattered.

Third, and critically: Purpose-built compliance. “We’ve looked at other solutions and they were very good with parts, but there was no solution that was tailored for this Luxembourgish market, especially with this advisor-investment manager relationship,” Charles says. “This has been fully integrated into the tool.”

The compliance module became the dealbreaker. The platform enables a clear workflow where investment advisor recommendations flow to investment managers, then through compliance checks that everyone can review. “This is the really outstanding point, the strength of etops Asset Manager Pro,” Charles notes.

For a five-person team managing complex fund operations in Luxembourg’s highly regulated environment, these improvements aren’t just metrics, they’re what makes excellence sustainable.

15 hours saved weekly on reconciliation and compliance checks alone. The morning workflow that encompasses NAV uploads, quote updates, automated compliance checks, and trade blotter exports now runs systematically in approximately one hour, a streamlined process that frees the team to focus on strategic investment decisions rather than administrative tasks.

99% reduction in order transmission errors through integrated FIX connectivity. The technology infrastructure has virtually eliminated system-related trading errors, creating what the team describes as an “almost foolproof” environment. While human errors can still occur, the platform itself provides a highly reliable foundation.

6x improvement in hedging workflow efficiency. The team now processes hedging operations for six funds simultaneously using the modeling function, a task that previously required handling funds one at a time through Excel spreadsheets.

100% real-time oversight of all critical fund management steps. From portfolio management through compliance to trading and NAV production, the team now operates with complete transparency, a dramatic shift from having no way to know which orders had been executed in real time.

The team now starts each day with complete visibility and control. Compliance is proactive, not reactive. Operations run smoothly without adding headcount. And most importantly, they’re positioned to scale, confident that their technology foundation can support growth without compromising precision.