IMAP creates model portfolio data standard
IMAP has announced an agreed industry standard for the transmission of model portfolio data covering areas such as file format, model components, security code definitions and model movement.
Known as the Model Portfolio Data Standard, it will provide an incentive to prevent further proliferation of propriety specifications.
The organisation said the growth in managed accounts had presented efficiency problems for model portfolio managers and the platforms that use this data.
This meant the cost and efficiency savings promised by managed accounts were at risk of being eroded by back office incompatibilities as the industry was reporting difficulties in meeting data requirements.
More than 20 industry participants, including Money Management parent Financial Express, from platforms, research houses and fund managers participated in workshop meetings for over a year to document their processes.
Toby Potter, chair of IMAP, said the group’s research could be extended into shadow weights, FUM reports and naming conventions.
“This working group has been tremendously effective at working together to bring greater efficiency to the market we work within,” he added.
AUTHOR
Laura Dew
Recommended for you
JANA Investment Advisers has made several internal promotions and new appointments across its research team to bolster its position in the market.
SQM Research’s former head of research, Rob da Silva, has joined an investment consulting and analytics firm to drive the expansion of its research coverage.
AFCA has confirmed its chief operating officer, Justin Untersteiner, will be departing the organisation in March to take up a CEO role.
Minister for Financial Services, Stephen Jones, has announced he will be retiring at the upcoming federal election.
