HSBC Global Fund Services provide fund administration and performance measurement services for institutional and corporate clients. HSBC’s market-leading range of performance measurement services include analytics giving investors high quality, regular performance reports that feature security level relative attribution and risk information. HSBC also advise fund management firms how to achieve compliance with GIPS® and provide independent verification of compliance, and have a consultancy service to assist clients with performance related projects. These performance services are used by over 60 clients who own or manage assets worth in excess of £400 billion.
Socrates Performance Measurement and Attribution supports HSBC’s analytical service by providing reports that include attribution that explains the relative performance at asset class, market or sector level. A security-level option is available that quantifies the impact of the securities held, plus those that are benchmark constituents but not held. HSBC selected Socrates as they required a system that offered fully automated software solution to calculate and analyse investment portfolio performance to the required detail and with an unrivalled degree of versatility.
Colin Kay, Director Performance Consultancy at HSBC Global Fund Services said “We have a very strong pension fund offering and are a leading provider to some of the UK’s largest pension schemes. Key deciding factors for schemes choosing HSBC are the speed and responsiveness of our service team. The team is able to use strong technology from AFA Systems to provide excellent service to our clients. Due to Socrates modular but integrated design we have been able to build up our Socrates implementation to match our changing business requirements. With Socrates we have a solution that delivers detailed performance analysis and attribution for both equity and fixed income portfolios, more efficient and timely report production leading to enhanced customer service. ”
Jeff Ashbolt, Managing Director at AFA Systems said “We are happy that we can support HSBC by offering a comprehensive, scalable performance solution. AFA Systems has always worked in partnership with its clients, the leading investment organisations in Europe, in delivering functionality to enable them to meet market demands and grow their business.”
Recently HSBC Global Fund Services has successfully migrated their existing Socrates installation to an Oracle platform. This will enable them to take advantage of the robust Oracle platform and many of the processing improvements put in place including parallel processing and increasing levels of automation