When asset managers consider outsourcing fund data management and distribution solutions, they might feel overwhelmed and concerned about the potential challenges. However, the migrating procedure, whether it is from an in-house or outsourced system, can actually bring significant benefits when executed correctly the first time. Ensuring accuracy from the beginning is crucial with data requirements becoming more frequent and demanding within the fund management ecosystem.
Accurate data is the key to success in asset management
In the world of fund data management, it is crucial to process and maintain large amounts of information while ensuring its accuracy and relevance. This involves cleansing, updating, and enriching the data, as well as distributing it in a way that ensures it ends up in the right hands. Failure to do so can result in vital information about funds, such as their names, registration status, manager names, launch dates, NAV, fees, and dividend values, being either missing or displayed incorrectly on data providers' and fund distributors’ websites.
FE fundinfo’s approach to the migration process
At FE fundinfo, we strive to make the migration process seamless and hassle-free, all while prioritising the accuracy of our clients’ data – a crucial aspect for the success of their businesses. Additionally, clients who have previously undergone a migration process with another provider will find our procedures familiar and straightforward.
Data pre-ingestion phase
The initial step involves clients acquainting themselves with our readily accessible data and document ingestion templates and instructions. Each template is conveniently categorised and accompanied by a comprehensive explanatory document for the following:
- Regulatory data
- Static data
- Dynamic data
- Full Portfolio Holdings data
- Portfolio breakdowns
Our dedicated team of Data Relationship Managers is available to provide support and answer any queries you may have during the migration process.
Data post-submission phase
Once you have completed the initial stage, you will be ready to fill in the templates and we will give you the go ahead to submit them on our system. However, as we genuinely prioritise the quality of your data, we will closely monitor the ingestion process. We will carefully review any data points that appear to be incorrect and ensure that the data sources are accurate before fully ingesting your data.
First our systems analyse your file and its contents. We call this the “validation” phase which offers machine-based, instantaneous feedback. Secondly, the valid part of your data submission is checked by our data teams, who run further data audits - i.e. human-based verifications also known as the “auditing” phase. The post-submission process covers data validation, verification of data source, completeness of information and even regulatory compliance of the fund.
But what if your data set is incomplete?
At FE fundinfo, we prioritise maintaining exceptional standards of our golden source database. This ensures that the data we receive from asset managers is displayed with the highest quality on our platforms across the United Kingdom and Europe, including Trustnet and fundinfo.com, among others. Furthermore, we accurately distribute the data on behalf of our clients to various recipients such as regulators, data vendors, distributors, advisers, banks, and more.
Our primary focus is to obtain the data directly from the source, as it offers the most reliability. However, if there are any constraints preventing you from sending us specific data types, we can explore alternative options such as utilising publicly available sources such as websites, documents. Nonetheless, we strive to minimise reliance on these alternatives.
Why should I migrate to FE fundinfo?
There are two compelling reasons why asset managers should choose to migrate their data management and distribution functions to us:
1. Unparalleled data quality standards
We adhere to a golden standard of accuracy when it comes to our clients’ fund data. This commitment ensures that they can mitigate risks arising from inaccurate and untimely data distribution, such as reputational damage, regulatory fines and potential litigation.
2. Streamlined data management and distribution process
Our services seamlessly integrate and communicate with each other drawing data from our golden source fund database. This approach ensures accurate and timely fund data and document output, enabling our clients to put their best foot forward in their sales efforts.
Get your My Data health score today with unparalleled insights to your data quality against our golden source database.