SimCorp has found out in a recent survey that 53% of asset managers are not confident that the investment performance figures they report are completely accurate.
The firm, which provides investment and portfolio management software and services, has surveyed a total of 88 asset managers representing $22.5trn (€20.1bn) in assets under management during a recent SimCorp webinar, “IBOR: The One Source of Truth for Investment Performance.”
The survey has revealed that 80% of respondents confirmed that portfolio managers do not receive investment performance numbers based on intra-day position calculations. And only 59% are able to look through to see the trades, prices, FX rates and classifications that are driving each portfolio’s performance numbers.
“The investment process should be seen as an opportunity – the differentiator which enables your firm to add value for your clients. If performance data is not up-to-date, there is an inability to see what’s actually driving the performance. This casts a large doubt on the accurate tracking of investments which does not inspire investor confidence,” commented Marc Mallett, vice president of Product & Managed Services at SimCorp North America.
“There is a critical need for asset managers to have access to real-time and accurate performance data, and these survey numbers show a significant gap between the tools asset managers have available and what they require to make high-quality investment decisions,” he added.