[ I N D E P T H | P R I V A T E M A R K E T S ]
“ As a firm , we have to create opportunities and demonstrate that we are a place that talented people will want to work at .”
JILL CARLTON , EXECUTIVE DIRECTOR , ALTERNATIVE INVESTMENTS , UMB FUND SERVICES
structure and format , something which can be facilitated through quality technology tools . However , private capital is still a very manual enterprise , and the added reporting requirements are putting strain on managers ’ already stretched internal systems and resources . “ We are seeing asset owners and managers wanting to streamline their operating models , both in terms of operations and technology infrastructure but also wanting data and reporting solutions that integrate across their organisation and their service providers . They also want aggregated data across private market strategies and asset classes . This can be particularly difficult to achieve in the private asset space where activity can be less automated ,” says Cathal Cornally , director in fund administration product , markets and securities at HSBC . This is resulting in some firms outsourcing their data gathering and aggregation - together with reporting processes - to more tech-savvy and scalable asset servicers . Cornally adds : “ Clients are looking for that ability to assess and report on combined , aggregated exposure and for data and reporting solutions that capture inputs from across the value chain , from front-office to back-office . Some of them are also looking to outsource more elements of the value chain , and they want data from the various providers integrated as part of a consolidated data set . They
34 Global Custodian Fund Services Annual 2022