Trading and investment software vendor SimCorp has launched a new managed data service for the buy-side in collaboration with major asset management institutions.
Known as Datacare, the data product aims to bridge the gap between solutions that offer operational efficiency, data advisory and multi-asset class coverage. It uses technology and a managed service to provide an automated, multi-asset, front-to-back solution for market and reference data management.
“By channeling into our clients operations and closely understanding and addressing the day to day data challenges they face, we believe Datacare can make a significant impact, eliminating the data headache that has persisted in buy-side investment operations for so long,” said Josef Sommeregger managing director for SimCorp Gain.
Buy-side firms face a number of challenges when handling multi-asset data across a number of countries, due to different regulatory requirements. SimCorp added that companies are falling short on two fronts: delivery of best practice guidance and data advisory, and the speed of publishing new asset classes and data sets.
SimCorp developed the tool in the partnership with its global asset management client community, such as the investment management arm of Zurich Insurance Group.
“We can now focus our resources on advanced data driven opportunities for Zurich’s Investment Management. As SimCorp rolls Datacare out and builds a community of clients on the platform, we are confident that we will achieve the scale and outcomes desired, which we could not have achieved on our own,” said Michael Kopf, COO of the investment management function of Zurich Insurance Group.