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Asset Management Firms are Changing their Data Management Approach in Response to Increasing Market Data Costs, RIMES’ Survey Reveals

RIMES’ 8th annual Buy Side survey uncovers the data management challenges asset managers face, as well as the technology and solutions being explored to overcome them.

London, August 3, 2020: Asset management firms are seeking more data but their approaches to the ever-increasing costs are changing, with operating model optimization now the preferred approach to addressing market data costs for 60% of respondents, a new survey from RIMES, the global leader in data management and RegTech solutions, has revealed.

RIMES’ annual Buy Side survey was launched when COVID-19 began to have an impact on global markets, and therefore provides the first unique insight into the changing priorities of the industry as the pandemic unfolded.

The Survey also found that:

  • The priority to manage data costs for asset managers rose 13% to 71% after the WHO announced the COVID-19 pandemic.
  • In 2020 sourcing new data types, such as ESG data, has dramatically increased in prominence. 49% of firms rate this as a key priority with 15% of firms now rating it their top data priority.
  • The flexibility to use data – cited as a relatively important problem last year – has further increased in importance this year.
  • 48% of asset management firms are interested in artificial intelligence (AI), while a further 23% are already actively implementing AI-driven solutions during the pandemic.
  • Blockchain appetite has declined dramatically this year, with less than 10% actively implementing Blockchain-based solutions.

To launch the report, RIMES hosted a webinar on 28th July to further explore the findings and key topics. Confirmed speakers include:

  • Ambika D’Souza, VP, Performance & Analysis, T. Rowe Price
  • Sylvain Pendaries, Head of Data Governance and Strategy at Janus Henderson Investors
  • Rob Middleton, Target Operating Model and Data Director at Royal London Asset Management
  • Jonathan Hammond, Partner at Sionic
  • Andrew Barnett, Global Head of Product and Strategy at RIMES

The webinar had also a dedicated Q&A session. To watch it on-demand, please click here.

RIMES’ Buy Side survey includes responses from over 100 asset managers, servicers and owners from across the financial services industry.

Firms of all sizes and geographies responded to provide a comprehensive global snapshot.

Read the executive summary of the survey here, or complete this form to request the full survey findings.

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