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Catherine O'Reilly
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MoneyMate Poll Reveals Heightened Investment in Buy-Side Data Management

  • 85% of respondents confirm that their firms are investing in new technologies for data management
  • Client service and regulatory compliance are driving factors behind increased investment

MoneyMate, a specialist provider of investment data quality management services, today announced the results of a recent data management poll conducted amongst buy-side participants. The poll gauges the industry’s focus in 2013 and what actions will be taken in data management initiatives.

In the poll, 85% of respondents stated that their firms would be investing more in fund data management in 2013. When asked which factors were primarily driving data management initiatives within their companies, over 69% of respondents cited regulation as the key driver. Approximately 63% of respondents stated that client servicing was also driving investment.

“In order to expand business opportunities, buy-side firms must invest in the infrastructure required to demonstrate the transparency and accuracy that regulators, along with investors, are demanding. Our poll results validate this demand. We encourage firms to seriously look at improving their data quality management processes,” states Ronan Brennan, CTO of MoneyMate.

In addition, respondents were asked about their firms’ primary priorities for the remainder of 2013. Client growth was a key focus with 46% of respondents rating it as the most important priority this year. Nearly 30% of respondents stated that increasing efficiency was one of their top three priorities. Dodd-Frank (51%) and FATCA (42%) were the top two regulations selected as having the most impact on firms’ operations.

“Despite regulation, it’s clear that buy-side firms are growth-oriented. In order for firms to take on new clients while complying with regulation, firms absolutely need to improve data management processes in order to scale,” continues Brennan. “At MoneyMate, we’ve found that working closely with global asset managers and mutual fund firms to help deliver automation and data transparency to their clients is no longer a nice-to-have for fund firms, but rather a must-have.”