In anticipation of a new wave of growth in the mutual fund industry, SimCorp has launched a self-assessment center for companies where they can see how well prepared they are to introduce new services and offerings, as well as to support them with existing systems, and to enter new geographical markets.
The questions also guide fund companies on their expectations regarding the effects of regulatory and legislative requirements, and their level of reporting automation.
After completing the 10-minute self-assessment, SimCorp will provide each fund complex with a personalized report on its growth readiness at both an operational and organizational level. In addition, SimCorp will provide ideas for what it calls “value creation.”
"Contrary to popular opinion, firms are ramping up for growth," said David Kubersky, managing director of SimCorp N.A. "Mutual fund companies are emerging from the recession and increasingly focused on preparing themselves for growth. We're seeing firms actively looking to expand their product offerings, increase assets under management and enter new markets."
Yet, in light of the “new normal” of tamped-down investor expectations and market performance, SimCorp said, mutual fund companies face an array of competitive challenges.
Kubersky added: "The mutual fund industry is under pressure to demonstrate a commitment to improvement, transparency and consistency. We strongly encourage firms to take this opportunity to participate in the self-assessment because so much can be learned through benchmarking against one’s peers.”