Hedge funds are gaining altitude in their move to the cloud. “What was best-of-breed years ago — having lots of different systems, intertwined and integrated with each other — has become untenable,” said Thomas Kim, CEO of Enfusion. “True cloud-based offerings are at the center of doing away with that legacy. The market is moving in that direction, in an accelerated fashion.” Enfusion, which provides a cloud-based investment management software and analytics platform, published research in October that showed hedge fund managers are growing more comfortable with moving data to the cloud to gain operational efficiencies, but data management remains a challenge.