POWERED BY MOMENTUM MEDIA
Data management receives global attention
It is not just Australian super funds that are experiencing an increased need for data aggregation, according to research from DST Global Solutions.
Globally, the majority of asset and wealth managers (90 per cent) have experienced an increased need for data aggregation but feel ill-equipped to support the capabilities they need, it said.
Wealth managers reported their top two challenges as aggregating data (67 per cent) and ensuring data consistency (67 per cent).
DST said data aggregation was a common challenge across the spectrum of investment managers, despite differences in the impetus for reviewing data management support structures.
Business need, risk management and regulatory reporting requirements were driving an increased need to manage data more effectively, it said.
Adam Ratner, sales director, Australia and New Zealand for DST Global Solutions said about one fifth of respondents lacked a system for data management, with just over half planning to invest in vendor technology over the next 12 months.
In Australia, the Australian Prudential Regulation Authority's increased reporting requirements were driving data management issues, Ratner said.
"These revisions require pulling together vast quantities of data from a range of sources, making investment data management a huge priority here," he said.
DST Global Solutions head of investment data management and analytics, Julian Webb, said the results showed data management had become a critical issue for successful business operations globally.
The study was written by analyst firm Aite Group.
"Data is the DNA of investment management firms, yet finding ways to better harness the value of this data has been an under-served challenge in the industry," Aite Group analyst Virginie O'Shea said.
O'Shea said the study illustrated challenges in conducting business using investment data that was disparately stored and inconsistently managed.
"These challenges can, in fact, act as a barrier to entry into new markets due to a lack of scalability," she said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
New research has shown that investing in alternative assets and using active management has, to this point, delivered strong results for Australian super funds.
Australia’s $4 trillion superannuation industry is fundamentally reshaping the nation’s external accounts, setting the stage for a more sustainable current account surplus despite weaker commodity markets.
Rest has expanded its portfolio of renewable energy infrastructure by supporting a Victorian solar farm and battery project.
Economic growth was weaker than expected, once again highlighting an economy largely sustained by population growth and government spending.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
