Best Arcana Alternatives in 2026
The top Arcana alternatives are FIS Hedge Fund Portfolio Manager, FundCount and HedgeGuard: 15 hedge fund software our editors would look at instead of Arcana, in our ranking order.
Arcana: A broad research and portfolio analysis suite for investment teams that value connected workflows. Where it falls short: pricing requires contacting sales rather than choosing a published plan.
Switching from Arcana? For most hedge fund software buyers the best Arcana alternative is FIS Hedge Fund Portfolio Manager, built for established funds needing core portfolio accounting. HedgeGuard offers the most listed integrations (120).
Why People Look for an Arcana Alternative
- Pricing requires contacting sales rather than choosing a published plan
- The broad feature set may exceed the needs of teams seeking a narrow tool
- Availability of the 50+ data integrations by plan is not specified
- Listed integrations: 50 — up to 120 with HedgeGuard
Quick Picks by What You Need
- Best overallFIS Hedge Fund Portfolio Manager9.1
Established funds needing core portfolio accounting
Visit FIS Hedge Fund Portfolio Manager - Most listed integrationsHedgeGuard8.6
120
Visit HedgeGuard
All 15 Arcana Alternatives, Ranked
Advertiser disclosure: iTechGuides is reader-supported. Vendors can pay for top positions in our rankings and for a place on other products' pages, and we may earn a commission when you click some links. Bought places stand at the number bought; this page and our disclosure say so. Paying vendors may get a fuller, more detailed review from our editors, and that review can change their score. How we rank.
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Best forEstablished funds needing core portfolio accounting
- Better than Arcana:
- Editor score 9.1 vs 7.5
A focused accounting and position-management system for established hedge funds.
- Fund accounting
- Portfolio management
9.1/10★★★★★Contact FIS -
Best forFunds needing accounting and investor reporting
- Better than Arcana:
- Editor score 8.7 vs 7.5
Broad fund accounting and investor reporting, with annual plans starting at $14,450.
8.7/10★★★★☆Visit FundCount -
Best forMulti-asset funds needing NAV, risk, and operations
- Better than Arcana:
- Listed integrations: 120 vs 50
- Editor score 8.6 vs 7.5
A unified cloud platform for multi-asset portfolio, NAV, risk, and fund operations.
- Order management
- Fund accounting
- Portfolio management
8.6/10★★★★☆Visit HedgeGuard -
Best forInstitutional funds with digital-asset operations
- Better than Arcana:
- Editor score 8.5 vs 7.5
An enterprise operations platform for funds managing digital and traditional assets.
- Order management
- Fund accounting
- Portfolio management
8.5/10★★★★☆Visit Arcesium -
Best forResearch-driven teams managing portfolio sizing
- Better than Arcana:
- Editor score 8.0 vs 7.5
Research-led portfolio sizing with constraints and position comparisons, but no order management.
- Portfolio management
8.0/10★★★★☆Visit Alpha Theory -
Best forFunds seeking broad portfolio and investor operations
- Better than Arcana:
- Editor score 7.9 vs 7.5
Broad multi-asset portfolio and investor operations, with pricing handled through sales.
7.9/10★★★★☆Contact SS&C Advent -
Best forMulti-asset funds needing trading and shadow NAV
- Better than Arcana:
- Editor score 7.9 vs 7.5
A modular multi-asset system spanning portfolio management, trading, risk and investor accounting.
- Order management
- Fund accounting
- Portfolio management
7.9/10★★★★☆Visit Linedata -
Best forFunds prioritizing integrated trading and accounting
- Better than Arcana:
- Editor score 7.9 vs 7.5
An integrated portfolio, trading and accounting system for multi-asset funds.
7.9/10★★★★☆Visit Enfusion -
Best forInvestors focused on portfolio analytics and oversight
- Better than Arcana:
- Editor score 7.9 vs 7.5
Portfolio analytics and oversight for hedge funds, with reconciliation and shadow-accounting workflows.
- Portfolio management
7.9/10★★★★☆Visit SEI Novus -
Best forFunds needing portfolio data, analytics, and reporting
- Better than Arcana:
- Listed integrations: 90 vs 50
- Editor score 7.9 vs 7.5
Investment data, portfolio analytics, simulations, and investor reporting in one platform.
- Portfolio management
7.9/10★★★★☆Visit Lightkeeper -
Best forAlternative-asset funds needing investor accounting
- Better than Arcana:
- Editor score 7.8 vs 7.5
Broad cloud platform for fund accounting and investor operations, without order management.
- Fund accounting
- Portfolio management
7.8/10★★★★☆Contact Arcesium -
Best forSmaller teams needing portfolio risk and investor views
- Better than Arcana:
- Editor score 7.7 vs 7.5
A cloud suite for portfolio workflows, risk analysis, reporting, and investor views.
- Investor portal
- Portfolio management
7.7/10★★★★☆Visit FundsTOTAL -
Best forBudget-conscious funds needing analytics and admin tools
- Better than Arcana:
- Editor score 7.6 vs 7.5
A $499-per-year analytics and operations suite for budget-conscious hedge funds.
- Fund accounting
- Portfolio management
7.6/10★★★★☆Visit HedgeArc -
Best forAlternative-asset teams focused on research and LP reporting
Research, alternative-asset monitoring, and LP reporting in a configurable investment platform.
- Investor portal
- Portfolio management
7.4/10★★★★☆Visit Backstop -
Best forFunds needing portfolio, trading, and accounting workflows
Broad cloud platform for hedge funds needing portfolio, trading, and accounting workflows.
- Order management
- Fund accounting
- Portfolio management
7.3/10★★★★☆Visit SS&C Advent
Arcana Alternatives: Common Questions
What is the best alternative to Arcana?
FIS Hedge Fund Portfolio Manager: #1 in our Hedge Fund Software ranking, with an editor score of 9.1 out of 10. A focused accounting and position-management system for established hedge funds.
Why do people look for Arcana alternatives?
Pricing requires contacting sales rather than choosing a published plan; The broad feature set may exceed the needs of teams seeking a narrow tool; Availability of the 50+ data integrations by plan is not specified.
Which Arcana alternative has the most listed integrations?
HedgeGuard, with 120.
How do I switch from Arcana?
Export your data from Arcana (most tools have an export in their settings). Sign up for the alternative; start on its free plan or trial if it has one. Import your export and set up the integrations your team relies on. Run both side by side for a short while, then cancel Arcana.
How to Switch from Arcana
- Export your data from Arcana (most tools have an export in their settings).
- Sign up for the alternative; start on its free plan or trial if it has one.
- Import your export and set up the integrations your team relies on.
- Run both side by side for a short while, then cancel Arcana.
Arcana vs Each Alternative
| # | Tool | Paid from | Portfolio management | Fund accounting | Score |
|---|---|---|---|---|---|
| 14 | Arcana | Yes | 7.5 | ||
| 1 | FIS Hedge Fund Portfolio Manager | Yes | Yes | 9.1 | |
| 2 | FundCount | $14,450/yr | 8.7 | ||
| 3 | HedgeGuard | Yes | Yes | 8.6 | |
| 4 | Arcesium Digital Assets | Yes | Yes | 8.5 | |
| 5 | Alpha Theory | Yes | No | 8.0 | |
| 6 | SS&C Advent Geneva | 7.9 | |||
| 7 | Linedata Global Hedge | Yes | Yes | 7.9 | |
| 8 | Enfusion | 7.9 | |||
| 9 | SEI Novus | Yes | 7.9 | ||
| 10 | Lightkeeper | Yes | 7.9 | ||
| 11 | Opterra | Yes | Yes | 7.8 | |
| 12 | FundsTOTAL | Yes | 7.7 | ||
| 13 | HedgeArc | $499/yr | Yes | Yes | 7.6 |
| 14 | Backstop | Yes | 7.4 | ||
| 15 | Eze Eclipse | Yes | Yes | 7.3 |
Reviewed by iTechGuides Editors · Editorial team · Updated Oct 2026
Last updated · How we research and update