RIMES Technologies, the leading provider of managed data services for the buy-side, has today announced it has been selected by Perpetua, an independent, owner-managed boutique investment management firm headquartered in South Africa, to provide its Benchmark Data Service. Through RIMES’ award-winning service, Perpetua will benefit from a significant improvement in data quality and a reduction in the costs associated with data management.
RIMES, which was awarded the contract following a competitive tender, will commence its service to Perpetua this Spring. Perpetua selected RIMES based on its ability to provide high-quality benchmark data in a format that is ready for use in its existing performance and attribution system. Perpetua will thereby benefit from immediate access to a universe of benchmark data that has been thoroughly quality checked and validated; enabling it to deliver the highest levels of customer service.
In addition to enhancing data quality, RIMES will drive significant cost efficiencies at Perpetua by dramatically reducing the time spent collecting, validating, customizing and supporting benchmark data at the firm. RIMES will manage the relationships with data vendors daily via a dedicated team; enabling Perpetua to benefit from economies of scale, and freeing its internal resources to focus on core business activities.
Logan Govender, COO at Perpetua, commented: “Of all the services we considered, only RIMES offered the ability to fully remediate and validate the benchmark data we need, and ensure it gets to our investment managers in a timely manner. RIMES, through their implementation team have been able to seamlessly integrate with our systems. We are confident that with RIMES’ service in place we will be able to increase the quality of the service we offer our clients while driving down the cost of data management in our organization.”
Neil Kelly, Head of New EMEA Business at RIMES, commented: “Perpetua has given us a new foothold in the South African market and underscores the value of our proposition. Through our service, which can flex to fit exactly Perpetua’s current and evolving requirements, the firm will enjoy a real advantage in the region’s competitive financial services sector. We look forward to a long and rewarding relationship with the firm, as we support its rigorous and innovative approach to investment.”