Various teams within the global asset management firm needed on-demand access to accurate, high quality portfolio performance information. The technical team was responsible for managing solutions for attribution and performance processes and redistributing this data to groups across the firm. As the asset types under management expanded, new attribution needs, performance models, and factors are now included in the portfolio management process, an increase in data and data transparency became critical. A performance analyst must have confidence that a report generated today yields the same analysis as a report generated two weeks ago. As a result, the team needed to replace the front office indicative tools with a true performance workflow, which starts with providing consistent truth in the numbers.
The firm was already using Portfolio Analysis, FactSet’s award-winning performance analysis calculation engine, to analyze portfolio performance across equities, fixed income, and funds of funds. However, the technical team was missing the tools to perform governance on the data and lock down the information generated by the models. The first step in building the solution was to set up the Portfolio Services workflow to run daily portfolio processes in Portfolio Analysis. Portfolio Services provided the data cleansing required, ensuring that the raw data undergoes an extensive validation process. During this process, failure alerts can trigger a recalculation or restatement of data on a specific portfolio. Once the data has been approved, the results are sent to Portfolio Vault. Portfolio Vault provides the ability to store, validate, and lock performance and attribution data, solving a data persistence challenge for the firm. While many teams within the company need performance information, not everyone needs the power of the Portfolio Analysis application. Portfolio Vault enables the performance team to gain quick access to the data they need, without having to wait for it to be calculated.
FactSet answered this firm’s need for a true performance workflow by closing the loop and implementing a data governance solution, enabling them to provide teams across the firm with more information with greater transparency. By harnessing the power of Portfolio Analysis and combining it with Portfolio Services and Portfolio Vault, the technical team can now provide accurate and consistent data to the investment management, product, and sales teams across the organization. Reports can be generated more quickly and with high confidence. Because the solution has been tailored to meet the needs of each team of stakeholders, rapid deployment across the firm is now possible. The process of implementing Portfolio Vault was highly collaborative, and a positive experience for this firm. FactSet worked closely with the technical team to understand their requirements and come up with the best solution for them, listening closely to their needs.