Cutter Associates’ Benchmarking program enjoyed tremendous growth during its inaugural year. With close to 30 members, CutterBenchmarking now speaks for the broad investment management community – with strong representation from all asset classes, sizes, geographies, and investment profiles. Collectively, the group captures the operational and technology expertise of more than $18T in assets (or more than 50% share of the asset management market).
As it prepares to enter its second year, CutterBenchmarking is making several notable changes to enhance the value of the program. These improvements, which are driven by an Advisory Board of leading investment managers, include the repeat of topics every two years to provide members with trend information and the ability to quantitatively measure improvement over time. Extending the repeat cycle in this way will afford members additional time to assimilate recommendations into their operations and to recognize the consequential benefits.
CutterBenchmarking will also introduce 5-7 new topics in 2007. These topics, to be selected by the Advisory Board, will give even greater insight into the operations and the capabilities that similar firms have developed. Early candidates for new survey topics include outsourcing (both client and vendor capabilities), CRM, and Fee Billing.
To meet demand and maintain high service levels Jackie Colella has joined Cutter Associates as Director of Benchmarking. She will assume a leading role in developing new surveys and working individually with members to understand the results of each assessment. Jackie comes to Cutter Associates from DST where she managed client support operations. Jackie has also been a trader and has extensive knowledge of all front and back office operations.
To meet the needs of smaller investment firms, CutterBenchmarking is launching CutterMetrics. CutterMetrics delivers four quarterly reports – each focusing on a different aspect of the investment management business – based on data submitted by each participant. In addition, CutterMetrics identifies best practices for each functional area and analyzes the data for trends and anomalies. Assessments and the detailed reports are available only to CutterMetrics members. The four areas to be evaluated are:
• Front Office (Trading, Compliance, Risk, Portfolio Analysis)
• Middle Office (Performance Measurement, Data Management, Client Reporting)
• Back Office (Corporate Actions, Regulatory Compliance, Settlement)
• IT Spending Priorities
CutterMetrics has attracted significant interest and an Advisory Board of 9 members has already been formed. They will ensure that the surveys deliver meaningful and actionable results pertinent to the mid-size asset manager.
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