The Head of Performance at a global asset management firm found his team’s use of very manual processes and reliance on the firm’s IT staff to be a growing handicap. With the performance team divided into multiple locations—London, Luxembourg, Singapore, and New York—it was proving a challenge to establish a single global process, which created a series of bespoke manual processes, leading to a high number of errors. As a result, the time to deliver controlled and approved performance data to both internal and external clients was considerable. In addition to workflow and automation issues, the team was struggling to provide approved fixed-income attribution results. The methodology in use was not aligned with the firm’s requirements or its investment processes and was difficult to maintain because of heavy data requirements.
FactSet enabled the team to better communicate, share, and analyze investment performance results. To fully achieve its project, the firm chose FactSet’s performance measurement, equity and fixed-income attribution, and reporting modules. The automated and detailed processes implemented dramatically increased scalability and controls. Working closely with FactSet’s consulting teams, the firm selected the appropriate attribution methodologies along with all required data. The firm could now rely on FactSet’s single data management system, which calculates and uses approved data for internal and external reporting. The automation of multi-format, multi-lingual, and multi-channel delivery of client reporting was a significant asset to the project.
After implementation, a single analyst was able to scale from the management of 23 portfolios to more than 500. And with FactSet’s automated checks and controls, the firm’s performance and reporting teams have been empowered to add more value to the front office and are considered integral to the firm’s success. Further, the efficient turnover of data queries (internal and external) allows the team to spend more valuable time on client services. Using FactSet’s best-in-class performance measurement and attribution tools, the firm was able to select and implement a more accurate fixed-income attribution methodology. FactSet’s Product Management and Research & Development teams worked closely with the client to develop, test, implement, and control a new and dedicated fixed-income attribution method in line with the client’s front office requirements. Matching those needs allowed the asset management company to take on new mandates and develop its investment strategies.