Jupiter Asset Management has signed a five-year deal with asset management software provider Room Zero in order to optimise its operations across the business.
Specifically, Room Zero will consolidate Jupiter’s assets under management and flow information into a single dataset, having consolidated over 30 databases into one, with 140 active Jupiter users on the system across finance, client group and the C-Suite.
The move comes as the asset manager seeks to better meet its clients’ needs and streamline operations.
Maximilian Guenzl, co-head of the client group at Jupiter Asset Management, said: “We recognise that technology is a crucial and differentiating factor in an asset manager’s ability to deliver a seamless and high-quality experience for clients.
“This is particularly important as the needs of wholesale and institutional clients converge. As we continue to develop our business to better serve our clients’ evolving needs, we welcome Room Zero as a partner.”
While AuM’s and flow data are usually managed by multiple separate teams, Room Zero is set to allow multiple departments to work and process common information.
This is done through the software provider’s cloud-based software which eliminates duplication of effort and silos.
Richard Warrington, co-founder of Room Zero, said: “Jupiter is now handling data feeds covering mutual funds, hedge funds and segregated accounts on our software. As a result of the work with Jupiter, our software now accommodates sophisticated retail clients, as well as institutional asset managers. It’s great to work with industry innovators like Jupiter.”
In a similar vein, earlier this year buy-side heavyweight Schroders opted to streamline its data and operations automation through a new phase of its expanding relationship with data automation platform, Xceptor. With this expansion, Schroders is set to eliminate risks associated with manual data entry, as well as leverage process “uniformity” to better streamline its operations.