F&C Asset Management plc and StatPro's Composite
module
In October 2004, investment
specialists F&C and ISIS merged to form a new
company with around £124 billion assets under
management.
The new company, called F&C Asset Management plc
(F&C) is one of the five largest asset
managers in the UK and a top ten manager of pension assets
across Europe. F&C is also a
quoted company on the London Stock Exchange.
Project Objectives:
During the course of the project the Performance Measurement Team
and Institutional Marketing department identified the following
objectives:
- To implement a single database capable of calculating, storing
and reporting both individual fund and AIMR/GIPS compliant
composite data
- To improve the control environment surrounding performance and
risk data and use the built-in audit trail to reduce time verifying
the composites in future
- To produce a variety of reports and charts for management
information purposes in an efficient and accurate process
- To deliver reports via the company Intranet in a controlled,
efficient, accurate way
- Prior to that time information had been maintained in Excel
spreadsheets.
Conclusion:
This made it time-consuming to enter data and difficult to pinpoint
and correct errors. The proliferation of spreadsheets did not lend
itself easily to control. The collection and management of data,
together with reporting requirements was therefore an extremely
labour-intensive effort. Highly trained, skilled staff were
concentrated on data gathering and reporting, with analysis playing
a secondary role.
After examining the marketplace F&C Management decided to
implement StatPro's Composites package. As a result
Foreign & Colonial have made measurable savings in terms of the
time and costs taken to produce reports.
StatPro continue to provide software solutions and support that
enables FCAM Performance Analytics to deliver added value services
among the best in the arenas in which we operate.
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