Asset Managers Not Confident In Numbers

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    More than half (53 per cent) of money managers are not confident that the investment performance figures they report are completely accurate, says a survey by SimCorp. It found 80 per cent of respondents confirmed that portfolio managers do not receive investment performance numbers based on intra-day position calculations. Furthermore, only 59 per cent are able to look through to see the trades, prices, FX rates, and classifications that are driving each portfolio’s performance numbers. Without accurate and timely information, asset managers may misreport performance data to investors and regulators or make ill-informed trading decisions, potentially putting firms at a competitive disadvantage. Marc Mallett, vice-president of product and managed services at SimCorp North America, says “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.”