Technological progress will be a key factor in the success of the funds industry in the coming years. Financial services more broadly haven’t been as quick to adopt high-tech solutions as other industries, but a sea change is under way that will give clients access to a wider range of data than ever before. Philip Hendy (far right) and Chris Patton, Head of Real Estate and Head of Private Equity respectively at Intertrust Group in Jersey, explore the impact that technology is having on the funds sector
The past year has proven how rapidly societies can adopt technological products and processes that modernise and enhance everyday lives. As thousands of people adapted to working from home, collaborating on the cloud, video calling friends and family and partaking in virtual summits and events quickly became the norm.
The finance sector has been discussing technology disruption for many years. Now, the funds sector is undergoing a huge technological adaptation in order to meet and exceed clients’ needs and help them to unleash the potential of their business.
Data-driven services
The main trend we’re seeing among Intertrust Group fund clients is that they crave more and more information. We think that’s socially driven; people have access to greater levels of detail than ever before, in all areas of their lives, and are used to consuming it ‘on the go’, in digital formats on phones and tablets.
This has led to people demanding more of their fund manager and administrator. Some investors are asking for this as they need the information to meet increased levels of regulation, but many more are seeking in-depth data to build a better picture of their investments.
To fill this growing appetite the industry has invested a lot of time, effort and money in building platforms that can deliver on society’s data-driven promise and help our clients navigate the complexity of more information.
While previously we could report the net asset value (NAV) of a fund and that would satisfy most clients, now it’s possible to elaborate on the true position behind a NAV and what’s contributed to its position at any moment in time.
The sheer variety of metrics that our teams can now report has broadened our remit and enhanced the service level for our clients. They can be much more specific about what they want to see from us and get information that is more granular than industry-standard benchmarks.
Our industry is on a technological journey and there’s still so much more to come. When people are used to high levels of detail, the main differentiator becomes how quickly you can get that data to them. Turnaround times to get NAVs to clients have decreased from around 10 days to between two and three days, or in some cases even quicker.
Empowering our clients
One key outcome of the data revolution is that people are now able to make more informed decisions.
We’ve certainly seen our clients take a more active interest in the performance of their funds and our people are interacting with clients more than ever to ensure they have all the knowledge they need to make sound decisions.
The modern client also has the option to find information for themselves, however. At Intertrust Group we use Investran Data Exchange, Intralinks, Yardi and systems developed in-house as part of our tech-enabled offering that gives clients the information they want and need, when they need it, in a format they are comfortable with.
Our significant investments in technology have meant that this process is efficient for us and the client, and gets to the heart of what’s important.
Intertrust Group has made a serious commitment to be a tech-enabled firm and lead the way for our clients. Everything, from the way we communicate to the roles we perform day-to-day, is geared towards using our technology to enhance client service and accelerate what’s possible in their rapidly transforming lives.
Find out more
Philip Hendy, Head of Real Estate, Intertrust Group in Jersey
Philip.hendy@intertrustgroup.com
Chris Patton, Head of Private Equity, Fund Services, Intertrust Group in Jersey
Chris.patton@intertrustgroup.com
Information correct as of print date, December 2020. For disclaimer and legal messages, please visit the Intertrust Group website intertrustgroup.com/legalnotice
• This advertising feature was first published in the Digital Edition of Businesslife