Although fund managers say that preparing to comply with the provisions of the Dodd-Frank Wall Street Reform Act is top of their agendas, they are pretty much in the dark about what to do, according to a survey conducted by SimCorp., a technology firm specializing in investment management.

SimCorp revealed that 72% of 60 firms it surveyed listed preparing for the new legislation as a top priority. Yet 13% said they don’t have the right systems in place and 64% don’t know if they have. About 15% said they couldn’t capture all the derivatives position, transaction and contract data in a single repository for an enterprisewide view of risk and performance; about 53% said they didn’t know if they could and only 32% said they could.

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