Nomura AM phases in data management
As part of a global investment platform upgrade, Japan's Nomura Asset Management (NAM) has completed the implementation of the first phase of Eagle Investment Systems' data management software solution.
The first phase of NAM's global upgrade included automating, cleansing and centralising NAM's global equity data in a common format to be used across the company. Later phases call for the system to be rolled out in the firm's offices around the globe.
"Data is a crucial element of our operations, and Eagle's platform helps us efficiently manage our data and provides our analysts with a clear and comprehensive view of our business," says Nomura Asset Management senior corporate managing director Koichi Goto.
Eagle's data management solution is a web-based architecture solution designed to be implemented into a firm's existing system. According to the company's product brochure, the solution emphasises real-time report generation and packaging -- essentially a high-tech tool to improve visibility of assets and trades.
John Legrand, managing director of Europe, Middle East and Asia-Pacific for Eagle Investment Systems, wrote earlier this year that one of the reasons that many firms first mis-stated the impact of last year's credit crisis was their lack of a data management strategy.
"There is a tendency for firms to think that just by implementing a risk or performance system, they are gaining control and visibility," said Legrand. "However, this is not the case if they fail to have control over the data that feeds these systems. By not implementing a clear data management strategy, chief investment officers and heads of IT could be putting their companies' competitive advantage at risk."
Asset managers and custodians report that since Lehman Brothers' collapse, clients are more interested in risk reduction techniques as well as increased transparency and visibility of their investments.
A recent survey by SimCorp StrategyLab supports these anecdotal conclusions. According to the results, 71% of financial industry respondents believe they can reduce risk through improved reporting. The survey concluded that the "ability to store, process and report high quality, real-time data on risk exposure" will benefit the firm long-term.
NAM is the largest investment management and advisory company in Japan, with its business focusing on the domestic and Pacific Rim markets. As of March 31, the firm had nearly ¥6 trillion ($61.4 billion) in institutional assets under management.
US-based Eagle is a financial services technology subsidiary of Bank of New York Mellon.