The latest DST Global Solutions report has revealed that 76 percent of top tier investment managers have seen a significant increase in priority of investment data management.
Entitled, Right Time, Right Content: Business Drivers for Smarter Investment Data Management and written by analyst firm, Aite Group, the report is aimed at understanding the business drivers for investment data management in tier-one institutional asset managers and wealth managers.
The report revealed that achieving effective investment data management is a high priority for asset and wealth management firms across the globe.
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 percent 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.
Julian Webb, head of investment data management and analytics at DST Global Solutions, said: "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.”
“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.”
Virginie O'Shea, an analyst with Aite Group covering data management and post-trade technology, added: “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.”
“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.”
