SimCorp survey reveals buy-side lack of confidence in data quality

SimCorp A/S 

24.01.2012 14:59
---------------------------------------------------------------------------

SimCorp, a leading provider of highly specialised software and expertise for
the investment industry, today released the results of a data management survey
conducted in December 2011. The survey polled nearly 100 executives from 50
buy-side firms across North America. 


Poll results revealed that over 40% of the surveyed buy-side firms are not
confident that the data they are receiving from disparate systems such as order
management systems, accounting, performance and risk systems is consistent and
of high quality. In addition, 67.4% of respondents believe that there is
significant effort involved in reconciling data between disparate systems and
sources. Approximately 22% of respondents indicated that it would take days
(vs. minutes or hours) to generate a report calculating their firm's
exposure/performance across all holdings, including derivatives. Nearly 8%
responded that this would take weeks. 

'The statistics are distressing,' says Matt Samelson, Principal at Woodbine
Associates, the Stamford CT-based consulting firm. 'According to these numbers,
40% of those surveyed are making investment decisions based on poor quality
data, and nearly 30% do not have a near real-time view into their exposure,
making it impossible for these firms to be agile and respond to shifting market
dynamics. We as a community need to galvanise change in order to restore
investor confidence.' 

'Improving data quality does not have to be rooted in a long and expensive
enterprise data management undertaking,' notes David Kubersky, Managing
Director of SimCorp North America. 'Investment managers that have adopted core
multi-asset class investment accounting systems have a distinct advantage with
data quality, as position data is already consolidated in a single repository
across all instrument classes.' 

                                      - - -

Enquiries regarding this announcement should be addressed to:
Susan Peter, SimCorp North America (+ 1 917 546 4654).

                                      - - -

About SimCorp
Since 1971, SimCorp has been providing investment and portfolio management
software and services to the world's leading investment managers, asset
managers, fund managers, fund administrators, pension funds, insurance funds
and wealth managers. SimCorp's world-class software provides global financial
organisations with the tools they need to mitigate risk, reduce cost, and
enable growth. SimCorp is a global company, regionally covering all of Europe,
North America and Asia Pacific. Listed on the NASDAQ OMX, SimCorp is dedicated
to supporting the global investment management industry, its clients and its
investors. For more information about SimCorp's products, please visit
www.simcorp.com/product.
News Source: NASDAQ OMX



24.01.2012 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      SimCorp A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0016026164
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------