Forty percent of RIMES’ new 2014 benchmarks are customized to best address the client and regulatory demands facing buy-side firms.
RIMES, the leading provider of managed data services for the buy-side, today announced a substantial increase in new data sources in the first half of 2014. RIMES regularly introduces these new sources in response to demand from participants across the buy-side.
Out of the RIMES universe of over 800 datasets and 150 data partners covering all asset classes, 71% of current feeds supply benchmark data. In light of increasing need for specialized benchmarks, 40% of RIMES’ new 2014 benchmarks are customized. With buy-side firms’ reliance on data growing overall, RIMES meets the growing demand for new indexes and has noticed an exceptionally strong call for alternative-related indexes, especially for private equity, alternative beta indices and real estate, in the first two quarters of 2014.
As Lucia Gamez, Vice President, Head of Content Management -Americas at RIMES, explains, “The buy-side is using more and more index and benchmark data for their business processes and no two firms rely on the same data. Last year, 50% of the new data we introduced was customized and we expect that number to spike to 70% this year.”
“As the need for customs has grown, buy-side firms often find themselves conducting calculations themselves with spreadsheets or using third party systems. “These manual methods may introduce reputational risk and require on-staff specialists,” she continues. “With client and regulatory demand driving requests for more official custom calculated indices, the asset management industry is certainly catching on to the many benefits of a managed data services approach through RIMES.”
New data sources introduced by RIMES since the start of 2014 include Alternative Beta & Strategy Indices from all major investment banks, Private Equity benchmarks from Preqin and LPX and Property Indices from INREV, ANREV, NCREIF and IPD.
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