âPacific Life has desired to play a more hands-on roll with our agent lenders. We believe that Data Explorersâ products will enable us to monitor our agents' performance to not only ensure that we are getting the best service, but also to satisfy what we see to be a best practice issue of monitoring all of our service providers,â commented Kathleen Clune, AVP and Assistant Treasurer of Pacific Life.
Performance Explorer is a secure, web-based service that allows participants to increase securities lending performance and profitability by comparing individual results against the aggregated data of a broad, customizable universe of industry peers. Results are viewable at program, portfolio, asset class, and security and transaction level. Data is provided exclusively by Performance participants and includes beneficial owners, asset managers, agents and principal borrowers. All customer data is kept confidential and anonymous. Currently, Performance Explorer collects aggregated data on more than 1.8 million daily securities lending transactions for over 190,000 securities and more than 20,000 portfolios. Recent figures compiled by the service indicated total lendable assets at over $12.5 trillion and total on-loan balances at more than $2.5 trillion.
Data Explorers have been steadily expanding their presence in the North American market over the past year and Pacific Life Insurance Company highlights the trend for underlying users to have independent verification of their lending program; and the performance of their lending agent.
Tim Smith, President commented âWe are delighted to welcome Pacific Life as our latest Performance Explorer client in the US, and they are pioneering our reach into the Insurance market; an area where we are experiencing growing interest given their securities lending activityâ.