Addressing the Challenges of Buy-Side Data Management in Australia
Joel Kornblum recaps his panel from Eagle’s recent Data Management & Performance Analytics event, sharing the opportunities and challenges facing the investment industry as it takes control of its data.
Joel Kornblum, Global Head of Strategic Alliances & Consultant Relations
With assets exceeding $1.9 trillion, Australia is home to the world’s fourth largest market for pension assets, according to a study published last year by Willis Towers Watson. The same study highlighted that the country has enjoyed the fastest growth rate over the past twenty years, reflecting Australia’s embrace of innovation—first, in creating the superannuation system in the early 1990s and, also, in assuming leadership positions in developing asset classes, such as infrastructure. Yet, despite the size of the market, the state of data management in Australia is still evolving and maturing. The relatively young state of data management in the country has created a major opportunity for both superannuation funds and independent asset managers to review and implement best-in-class solutions. In fact, Eagle has seen considerable interest in our continuum of solutions to support the evolving data management needs of the market. Australia not only has the opportunity to catch up to the rest of the world, but undoubtedly leapfrog other regions while embracing cloud-technology and managed services to bring new capabilities to bear.
Eagle recently sponsored a Data Management and Performance Analytics event in Sydney where I hosted a panel entitled, “Addressing the Challenges of Buy-Side Data Management,” with a special focus on the Australian market and experience. Those who participated on the panel included: Brad Farrell, Manager, Data and Analytics Solutions, Colonial First State Global Asset Management; John DiBiase, Managing Director, Shoreline Consulting; and Alexis Walker, Director, Asset Servicing Australia, BNY Mellon.
After arriving at a common definition of data management, the panelists shared their insights into various challenges that are impacting the industry’s ability to plan for, manage, and deliver timely fit-for-purpose data to meet business needs.