62% of Participants Say That Data Aggregation is Biggest Challenge
DST Global Solutions, a leading provider of technology and data management solutions for the investment management industry, today released the results of a global study aimed at understanding the business drivers for investment data management in tier-one institutional asset managers and wealth managers.
The report, Right Time, Right Content: Business Drivers for Smarter Investment Data Management, written by leading analyst firm, Aite Group, reveals that achieving effective investment data management is a high priority for asset and wealth management firms across the globe. The need is driven by a confluence of factors forced by business need, risk management, and regulatory reporting requirements.
According to the study, while the drivers pushing asset managers and wealth managers to consider new support structures for investment data management are different, data aggregation is a common challenge. The report cites that 90% of those surveyed indicated that they had experienced an increase in the need for data aggregation capabilities and that they felt they were ill-equipped to support these requirements.
DST Global Solutions collaborated with the Aite Group on the first truly global buy-side study focused on investment data management, with equal participation from European, North American and Asia-Pacific-based firms. "We undertook this survey with the Aite Group to highlight the growing importance of investment data management to the industry and to help identify the key challenges firms face,” says Julian Webb, Head of Investment Data Management and Analytics, DST Global Solutions. “The findings clearly highlight the fact that addressing the challenges is becoming a critical issue that firms need to prioritise in order to continue to operate successfully.”
“Data is the DNA of investment management firms, yet finding ways to better harness the value of this data has been an under-served challenge in the industry,” said Virginie O'Shea, an analyst with Aite Group covering data management and post-trade technology. “Together, we reveal the serious challenges facing these firms in attempting to conduct business as usual with investment data that is disparately stored and inconsistently managed. These challenges can, in fact, act as a barrier to entry into new markets due to a lack of scalability.”
The findings of the study will be presented at an invitation-only event on the 20th of June in London and at the TSAM North America conference in New York. The study will be available for download after the events from the DST Global Solutions website.