Launching a new mutual fund takes months of planning, research, designing, building and testing. Myriad decisions are made, not least of which is the selection of an appropriate performance benchmark. Accurate performance reporting must start on Day One of the fund’s existence. Last-minute changes that hold up the launch can negatively impact the firm’s reputation and revenue.
Late on the morning of the day that one of RIMES’ major clients was launching a new mutual fund, the RIMES Sales Manager received an urgent request from the client’s Project Manager. The client’s New Products group needed the data for a different performance benchmark for the fund due to last-minute changes in the fund’s portfolio composition. Changing benchmarks after the launch of the fund was not an option. To boot, the launch date was set and immovable. The client’s reputation was on the line.
The client’s Relationship Manager immediately contacted RIMES Client Support and explained the request and its urgency. RIMES Client Support confirmed the benchmark would be in the client’s production data feed by that afternoon, prior to the launch. Then, in the space of a few hours, RIMES Data Management conducted the research, contacted the benchmark provider, received the necessary approval and prepared the paperwork. Next, the RIMES Implementation Specialists worked with the client to create a sample file, ensured the client had tested the file and, finally, confirmed the client’s approval of the data. Only then was the new benchmark file put into production.
The RIMES Difference
RIMES’s world-class service is a hallmark of the Managed Data Services. Our comprehensive benchmark data service and commitment to fast, efficient and effective client service enabled this fund manager to launch their new mutual fund on time, even with last-minute changes. These capabilities are possible because of the skill and dedication of the RIMES client services and data performance teams.
All Systems Go
As our clients understand, data management is not merely about operational efficiency. It could have a significant impact on your firm’s reputation, revenue and fund operations. Our clients consider data to be a strategic priority, which is why they rely on RIMES to ensure delivery of the cleanest, most dependable data across all use cases – from portfolio and risk management to performance measurement, compliance and reporting. Learn more.