In 2013 and beyond, the asset management industry is facing a number of serious common challenges from internal and external forces. Firms of all sizes and investment strategies are under increasing scrutiny from external regulators, as the internal pressure to provide higher levels of service and visibility to clients continues to increase.
Attendees at the second RIMES Netherlands forum shared these views and expressed a number of unified opinions and desires: the usage and complexity of index data is going to increase; strong data management is central to building a robust operating model which offers future scalability; and a meaningful enterprise-wide approach to data governance is a prerequisite for usage management, compliance and cost control.
However, as the industry develops a consensus about its desired operating model, firms struggle to manage and therefore measure some of the fundamental ingredients: what is the total cost of ownership associated with onboarding and managing new indexes; how realistic is data rationalisation without a clear view of where data is used and if it is still essential; and how should a firm’s data governance strategy be defined when no common definition exists in the marketplace.
This year and beyond RIMES will continue to help asset managers tackle these challenges head on; The RIMES Benchmark Data Service® and RIMES Reference Data Service provide managed data precisely for your internal systems immediately strengthening your data management operating model. RIMES will continue to assess the impact of new regulation on our clients and evolve and adapt our service offering accordingly. The RIMES Data Governance Service will offer greater visibility of a firm’s data directory and management of its associated costs.
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- Ask the Expert: FIGI I.D. Mapping Across Multiple Asset Classes
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