Global Investment Systems Ltd. (GIS), a developer of software for the securities industry has acquired FutureFirst Software, Inc., a Chicago-based hedge fund and alternative investment software company.

The new software suites, MHEDGE and MPARTNER will work with MFACT®, the GIS fund accounting system that supports all aspects and phases of investment and financial accounting, particularly for mutual funds, hedge funds and unit trusts; and MSHARE, GIS’s transfer agency and shareholder recordkeeping system. These products can be used for partnership accounting and tax reporting, managed futures funds as well as for “fund of funds” accounting.

FutureFirst Software’s clients include over 25 traders in seven countries with over 200 funds with nearly $5 billion in assets under management. GIS, which will retain the Chicago office of FutureFirst, plans to expand the staff there in the near future.  

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