The case for inter-organisational data ecosystems for asset managers
Sharing research, product information, and other data with your competitors probably isn't the first thing you'd think of when looking for ways to grow your business, work more efficiently, and manage risk better. If anything, it would be last on your list. Or not on your list at all. Why share potentially sensitive information with firms that are vying for the same customers you are? But while it sounds counterintuitive, this approach can deliver huge dividends for everyone. When firms organise, share, and manage data together, they can create value — for both themselves and their customers — that goes far beyond what they could ever achieve [...]
How to take the pain out of third party reporting
You'd think standardisation would make reporting easier. But the EMT, EPT, and all the other regulatory reporting requirements you have to contend with as an asset manager have led to the complete opposite. If anything, putting reports together in the correct format is becoming increasingly challenging. And it's primarily down to the way data is gathered, managed, and stored The good news is that it doesn't have to be like this. With the right technology in place, you can create complete, accurate, and compliant reports quickly, without the attendant frustration. Here's how. Out of control Complying with reporting requirements is challenging to begin with. But, to make [...]
Document generation is broken, but there’s a fix
How much of their time do your staff spend on document generation? Hours? Days? Perhaps a week a month or more? While you might not know the exact figures, we're willing to bet it adds up to a significant chunk of their work week. From prospectuses, KIIDs, and factsheets, to regulatory filings and internal reports, asset managers are faced with an ever growing list of documents they have to produce on a monthly — if not weekly — basis. The kicker, though, is that most of these documents have to be compiled manually. Which means the process is not only frustratingly inefficient, but also prone to mistakes [...]
A golden source of data is pointless, unless you do this…
If you're an asset manager, having a golden source — a complete, accurate, trustworthy repository of your organisation's data which you can access quickly and easily — is a game-changer. McKinsey reckons investing in technology that organises, analyses, and stores your data in one place can slash asset managers' admin costs and increase revenue by as much as 30%. The problem is that, once it leaves your golden source, your data can change and become inaccurate. And because third parties aren't always regulated, it's your firm that could be on the hook should regulators uncover any issues. Clearly, having your data nice and organised internally isn't enough. [...]
Creating value-aligned partnerships with common goals
By Simon Swords, Managing Director There is no better approach to solving challenges than the famous saying, "two heads are better than one." At Fundipedia, we believe that real progress and big breakthroughs can’t happen in silos. Developing value-aligned partnerships that focus on common goals and complementary strengths is key to ensuring successful outcomes for all. That’s why one of our key strategic priorities is to work collaboratively with partnerships that generate the kind of energy to fuel growth, innovation, creativity and solve business problems. Kurtosys and Fundipedia Engaging with our customers to understand their entire business landscape is fundamental to how we continue to drive innovation and solve complex problems for them. We use regular meetings, quarterly user groups and a range [...]
Staying ahead of technology and regulation with data governance
We are fast approaching a perfect storm in asset management. From our standpoint here at Fundipedia, a data agnostic data management platform used by a range of high-profile firms such as M&G and Barclays, we have a unique perspective on the market and the challenges it faces in the next three to five years. In summary, we expect firms that are ship shape i.e. they already invest in resources, technology and drive their business forward with a clear operational focus and strategic objectives around data governance, will come out ahead. Admittedly this was always the case – but the same COVID-19 outcomes which have accelerated the demise [...]
4 challenges facing the asset management industry
The asset management industry entered 2020 with a great deal of optimism. Sadly, the trials and tribulations of this year will have impacted this perspective. Despite this, the smartest firms will continue to invest in their people and technology and attempt to do better than just trying to keep business as usual ticking over. We are already seeing a marked difference between firms that are struggling to maintain their pre-COVID status quo, and those who have forged ahead to attack the challenges 2020 offers head on. What are the challenges? Here, we will explore the four most pressing challenges facing the asset management industry, and provide specific [...]
Understanding the importance of data quality metrics
When your business invests in an effective enterprise data management (EDM) solution, you will gain a core advantage of holding your critical data in one manageable location. In a time where the vast quantity of data typically found in asset management firms, these systems are becoming more critical than ever. However, to truly harness that data and use it to guide meaningful decisions within your organisation, you need a clear idea of its quality. Poor data quality can lead to significant issues if it is used to guide a company's direction. If it is outdated, inaccurate, ambiguous or incomplete, this can subsequently result in wayward strategies, as well [...]
Understanding the value of a business case
Today's businesses are driven by data. The vast amount of data that companies generate and amass on a day-to-day basis is at the heart of unlocking new opportunities, developing their processes and fulfilling their true potential. However, this is typically only true for organisations who have gotten to grips with data governance. It is one thing to create and collect data – it is another thing entirely to truly own, understand and utilise it. Consider your own company for a moment – do you have answers to the following? What does the data we've collected actually mean? Can I trust our data? Where did our data come [...]
The 7 essential steps to building a business case
In my experience, the biggest hurdle to overcome when introducing a new data initiative is found right near the beginning – getting executive buy-in. While data is the driving force behind the development of businesses in many industries, especially within the financial services sector, setting an initiative in motion that's designed to capture, store and govern this information can be a real challenge. That's because any effective data initiative needs to present business-wide benefits, not just be contained to a single department. Without a holistic approach, you risk the rest of your organisation ignoring this new source of data, rendering it ineffective in the grand scheme of [...]
Software Dilemmas – The Buy vs Build Debate
By Simon Swords, Managing Director It's a question that many individuals are confronted with at some point in their career: "Should we buy this software solution, or are we better off building our own?" As the MD of a software company myself, I understand this dilemma very well. When you have the in-house skills and resources to develop your own bespoke solution to a problem, there will be a strong desire to go this route for reasons that include: You won't be required to pay an annual fee to another company for the solution You wouldn't become dependent on the supplier of said solution You will have [...]
Data Quality Challenges: What They are and How to Overcome Them
Data makes the world go around, there’s no doubt about it – and with increasing innovation and automation shaping our day-to-day, it’s possible to collect and store more information than before, making access to data easier than ever. However, ensuring enterprise data quality proves to be a consequential hurdle for many companies, with a lengthy list of reasons causing businesses to struggle with the soundness of their data. For example: Some companies encounter data inconsistencies across different departments. Others find that the raw data that flows into their data supply chain, both internally and externally, poses the very real threat to create data quality issues along with a lack of standardisation. [...]
Webinar: Modern approaches to data for asset managers and The European ESG Template – what you need to know
Modern approaches to data for asset managers Register here to secure your space at the event: https://register.gotowebinar.com/register/4572968236754749711 Simon will explore how asset managers are using modern processes and systems to put data governance on autopilot, allowing them to remain focussed on their core services. Topics include: How to align your data projects for successful outcomes The benefits of efficient data management Leveraging control models to automate data governance Integrating internal and external data sources Ensuring that your data across the market is consistent and accurate using automated reconciliation Using workflow to optimise your fund and share class launch processes The European ESG Template - what you need [...]
Future-proofing asset management: 6 key changes to succeed in 2022 and beyond
While asset management firms are starting 2022 in a position of strength, the times — as Bob Dylan would say — are a'changing. Despite the precariousness caused by a certain deadly virus that's been doing the rounds, the industry hit double-digit growth during 2020 and 2021. But, to paraphrase a well-worn investment disclaimer, these numbers aren't a guarantee of future success. With mounting regulation, rapid technological change, and, most importantly, investors' shifting attitudes and expectations, the products, tools, and approaches that firms have relied on for decades are no longer fit for purpose. So what does the asset management firm of the future look like? And how [...]
Basic ESG and SFDR terms all Money Managers need to know
The SFDR was introduced by the European Commission, alongside the Taxonomy Regulation and the Low Carbon Benchmarks Regulation, as part of a package of legislative measures arising from the European Commission’s Action Plan on Sustainable Finance. The main provisions (Level 1) of the Disclosure Regulation came into action in March this year. The initial application date of detailed rules for requirements (Level 2) was set for January 2022. However, the European Commission decided to defer by six months as a consequence of its failure to hit the deadline for adopting draft regulatory technical standards (RTS) submitted by the European Supervisory Authorities (ESAs) in February. While this delay [...]
Fundipedia 2021 – a year in review
As 2021 nears its completion and we prepare for 2022, we’re taking a moment to reflect on what we have achieved over the past 12 months 🥂 We continued to grow our client base and now provide Fundipedia data platform and consultancy solutions to firms with a combined AUM of over US $4 trillion 🎉 We have quadrupled annual recurring revenue and a onboarded a raft of new global (and incredibly happy) clients. A recent client quote from a global asset manager: "Thank you again for your team’s outstanding partnership which we look forward to maintaining going forward.". 💪 We formed 6 new partnerships with best-in-class market data and technology [...]
Eye of the TIGRR: what’s next for financial services regulations in the UK?
Whether you think it's a catastrophe or the best decision the country has ever made, Brexit has happened. And with the UK now no longer obliged to follow EU rules, the government is keen to make wide-ranging regulatory reforms. To this end, in February 2021, the Prime Minister appointed TIGRR — the Task Force on Innovation, Growth, and Regulatory Reform — to look at how the UK could be less bureaucratic, foster innovation, and increase competitiveness. The ensuing 130-page report is packed with ambitious and far-reaching proposals which the authors believe will: '...drive innovation and accelerate the commercialisation and safe adoption of new technologies... reduce barriers to [...]
The future of intelligent machines and investment management
Technology will continue to play a critical role as the challenges facing the financial industry intensify. Such challenges may include but are not limited to, volatile capital market returns and margin compression. Those embracing innovative technology will be better placed and more capable of adapting to changes thus enabling rapid business transformation as well as maximising efficiency and value creation. Thus far, Intelligent Machines have been predominantly used by Asset Management firms to boost operational efficiencies. So, where have we seen the adoption of Intelligent Machines in investment management? Identifying trends and patterns to support sales and distribution, product pricing, trade allocation, portfolio construction and analytics Streamlining [...]
9 ESSENTIALS to gain a competitive advantage for your Wealth Management Firm
According to a cross-industry research by Accenture, over 80% of Asset Management companies don’t have enterprise-wide Master Data Management (MDM). Half of the respondents didn’t even regularly assess and update their data governance process definitions. So what is Master Data Management? MDM empowers Asset Managers to link all critical business data to a single point of reference. This reduces errors while ensuring business processes are not made redundant. It is the core process used to manage, centralise, organise, categorise, localise, synchronise and enrich master data while adhering to business rules. Why is MDM so important for the AM industry? Implementing MDM, and thus the ability to change [...]
8 pain points manual reconciliation brings to the table
In seeking to meet and overcome the challenges Investment Managers face in the wake of soaring trade volumes, increasingly complex transactions, and mounting pressure for faster reconciliation, firms today face an unprecedented level of hardship but also a myriad of opportunities. One of the greatest challenges Asset Managers must overcome is their capacity to meet the growing market demand for accurate and fast data reconciliation, regardless of volume levels. Efficient scaling has become impossible with existing manual processes. Here are 8 potential pitfalls of manual reconciliation that can hold your business back: Higher operational risk from unmatched data items Account errors that mislead Portfolio Managers, particularly regarding [...]
Summary of the FCA’s 2021/22 Business Plan and what it means for asset managers
The Financial Conduct Authority has been publishing its annual business plan for close to a decade. But this year's plan, published on 15 July 2021 — three months later than usual — is radically different to its predecessors. The first plan under new CEO Nikhil Rathi, sets out a broad and ambitious vision for the financial services industry's Covid-19 recovery and the future of regulation in the UK. In order to achieve that vision, the FCA plans to implement sweeping changes to how it operates, how it engages with the businesses it regulates, and what it expects from those businesses moving forward. Here's a look at the [...]
How the global pandemic affected individual investors…
NATIXIS, an asset management firm ranked among the world’s largest, surveyed 8,550 individual investors with $100,000+ investable assets globally across 24 countries in March and April 2021. The study sought to understand how the global pandemic had affected individual investors’ finances and emotions in the past year. Their findings revealed that: About 1 in 10 experienced the loss of their job or business for at least part of 2020 More than 20% reported the loss of household income About the same number said they were forced to withdraw from their savings accounts and other assets 1/5 said they had experienced a setback to their financial security. Despite [...]
Fundipedia and Opus Nebula integrate their SaaS solutions to provide a seamless data management and fund reporting solution
November 2021: Fundipedia and Opus Nebula have integrated their cloud-based SaaS solutions to provide a turnkey solution for fund data management and fund reporting for investment houses, wealth managers and asset servicers. The initial integration was undertaken to provide an automated end-to-end solution for a UK based independent investment management house dedicated to providing a high-quality and efficient service for private clients, charities and institutions. The investment house was struggling with a lack of a formal data structure, data controls and data accuracy, with an over-reliance on spreadsheets. In addition, the resulting fund reports, fund factsheets, KIIDs and other Regulatory required reports were labour intensive and slow [...]
5 Competitive Boosters of an Automated Reconciliation System
Reconciliation is often overlooked and undervalued by firms. Done right, reconciliation can help you avoid regulatory risks, make informed decisions, and ultimately reduce costs. Unfortunately, reconciliation at many firms remains a laborious, time-consuming and risk-prone process relying heavily on spreadsheets and manual labor. This approach is not only inefficient but also fundamentally unsustainable in the long run. Planning well ahead, and considering automating your data reconciliation process early on, could be the competitive edge your firm has been seeking. Here are 5 competitive advantages to consider when deciding whether automated reconciliation is the right choice for you: 1. Informed investment decisions Asset managers are increasingly demanding further [...]
What’s behind Fundipedia’s service quality and resilience?
Fundipedia is backed by a team of technology experts, Asset Management industry veterans, and entrepreneurial builders. We’ve been helping the likes of Barclays, Prudential and M&G take control of their data since 2007. Our innovative technology enables the user to disseminate and reconcile any type of data. This results in end-to-end control, as well as insights that drive smart business decisions, inspiring the confidence to meet regulatory requirements with ease. You can learn how Fundipedia employs the latest developments in Artificial Intelligence and Machine Learning >> here. Fundipedia is delivered via a web application built on top of the .NET Framework connecting to a SQL Server database. [...]
5 ways your Asset Management firm will stay ahead of the game with AI and ML
Artificial Intelligence (AI) and Machine learning (ML) may seem both a distant and even scary prospect to some, straight out of a sci-fi movie plot, but in reality they’ve been around in our lives for quite some time now. Think Siri or Cortana, for example. A growing number of financial institutions are applying AI to their businesses via the back office and customer advice interactions to name just a couple. And, according to a report from the last World Economic Forum, 76% of banking CXOs agree that adopting AI will be critical to their organisation’s ability to differentiate in the market. Yet, the Asset Management industry seems [...]
Are you certain you’re fully complying with MiFID II?
Asset managers have been living with MiFID II for close to a decade. But while that might seem like it's more than enough time to get to grips with the directive's admittedly complex requirements, it turns out many aren't as compliant as they thought they were. Or, at least, that's what the Financial Conduct Authority discovered, according to the findings of a review they published on 26 February 2021.Here's a look at the FCA's key findings, plus some tips on improving your firm's MiFID II compliance which you can start implementing straight away. What was the scope of the FCA's review?The FCA's review focused on product governance. In other words, [...]
Steps that forward thinking asset managers take after they’ve created a static data product master
So you have mastered your static product data - congratulations! You’re now one step ahead of your competition. What next? Accurate and trustworthy static data creates a foundation that offers many additional opportunities for asset managers to utilise their data, driving the business forward while keeping on the right side of their regulators. It also presents opportunities to empower customers and reduce time on unnecessary data administration tasks. So let’s get to it, what additional opportunities present themselves after the static product master is mastered... Get dynamic It’s a fantastic idea to supplement your Golden Source of static data with dynamic data e.g. prices, dividends and so [...]
Introducing: The zero-effort way to prepare for SFDR
While sustainable investing isn't a new idea — the first sustainable investment fund, Pax World, launched in 1971 — it has exploded in popularity over the past few years. Investors are rebalancing their portfolios to make them more sustainable in record numbers. But if sustainable investments are better for the planet and more resilient — in 2020, they outperformed traditional investments by an average of 0.9% — their popularity has also turned 'sustainability' into somewhat of a buzzword. As a result, legislators have stepped in to make sure that, when asset managers and other financial market players bill themselves and their products as sustainable, they really [...]
ISO 27001 independently recognises Fundipedia’s industry-leading security standards
At Fundipedia, the security of our software, infrastructure and your data is a cornerstone of the services we provide. It’s vital to everything we do. One of the ways in which we deliver a secure product, platform and privacy practices is to implement externally audited standards that ensure trust, control, and mitigate the risk of security breaches. Our completion of the ISO 27001 demonstrates our ongoing commitment to this promise. What is ISO 27001? ISO 27001 is an internationally recognised security standard that provides the specification for an Information Security Management System (ISMS). Based on risk management principles, the ISMS sets out the policies and procedures defined by organisations to keep all the information they hold secure, helps increase resilience to cyber-attacks, and provides a central framework for the management of [...]
Document Management
Did you know that Fundipedia has a secure online centralised repository where you can easily search, retrieve, and share documents? From version 1.4.7 use this feature to store all of your fund related documents including KIIDs, Factsheets, prospectuses and more. The document centre, available from the Fundipedia top menu, is a convenient place view and search all documents, upload documents, revise documents, seek approvals on changes, and see a full audit trail of changes. Documents can be assigned to a specific Fundipedia record (e.g. Fund or Share Class) or standalone. Users can upload up to 100 documents at a time. The following document types are supported: csv, [...]
Change Events
Change events, introduced in Fundipedia version 1.4.6, give users a powerful way to program automatic updates to the information stored in Fundipedia. Field data can be automatically changed based on other field value changes based on the rules you configure. Tell me more So how would this work in a real world example? Let's consider a Share Class Extension field. This field is generally a combination of many different fields with rules depending on whether the share class is hedged. Please note this example is for illustration purposes only. Administrators can add a change event on a field from the field edit screen: To create a change [...]
Release – version 1.4.7
Release - version 1.4.7 Enhancements to document management New centralised document centre You can now upload documents not associated to an object Documents can be versioned via the approval process Enhancements to the Benchmark object This includes new relationship objects between Fund, Share Class and Sub Funds as well as a new object to allow Benchmarks to relate to themselves. Dashboards (beta) Three configured admin dashboards: Approval count Approval turnaround time Fund completeness Allow duplicate relationships Administrators can now configure whether many-to-many relationships can be duplicated via the admin settings. For example, the same fund manager can be added to the same fund record more than once. [...]
Fundipedia API
The need to efficiently share Fund data between people and systems is an issue that faces most asset management businesses today. One way to unlock this challenge is to use an Application Programming Interface (API), which at its most basic acts as a door to your data allowing other systems to interact with it without sharing anymore than it needs. From version 1.4, Fundipedia has a comprehensive set of APIs. The API can be used to extract data on a per object basis, execute a configured report, or retrieve items awaiting approval. You can also post data into Fundipedia. This includes creating and updating records. As well [...]
Release – version 1.4.6
Release - version 1.4.6 Change events Update to the change events system which will allow Fundipedia field data to be automatically changed based on other field value changes and rules you configure. See our change events help articles for more information. Enhancements to variations New combined view and edit all options available on form layouts. An administrator can configure which variation is displayed by default. The order that variations appear can now be changed by a system user. New Country variation extension has been added which appends the country ISO country code to the field name You can now make a variation extension inactive but still report on [...]
Release – version 1.4.5
Release - version 1.4.5 Reporting standards Users now have the ability to give fields extra headers and formats when building reports, e.g. for reporting in openfunds format. See our reporting in different standards blog post for more information. New 7 decimal place data type is now available Single Sign-on authentication with Azure AD Field information tooltip now available via field label click, not hover. This now allows you to copy and paste information from the tooltip.