A large endowment company was seeking a market data platform that offered extensive portfolio-level detail for their risk and investment teams. The objective was to expand and improve the quality of content and analytics to provide a sophisticated solution for analyzing both public and private portfolios, researching securities, and monitoring markets.
At the time, the firm relied on a legacy market data system but was in search of a platform that offered better performance and attribution reporting options, as well as a more intuitive interface. The foundation was relying on disparate systems, rather than one consolidated platform, to access critical public and private company data.
The investment and risk teams sought an all-in-one solutions provider that would address their market data requirements and help ensure higher levels of platform adoption across the organization.
The company began evaluating several market data platforms in search of one system that met their needs. After an initial introduction with FactSet, they proceeded with a formal trial. The FactSet team led in-person and virtual trainings to ensure all users were able to customize the FactSet workstation and utilize all available tools. The trial process helped the firm uncover exactly what their requirements of a market data system were and gave them confidence that FactSet’s offering was best aligned to meet their needs.
During the trial, the company discovered that it could access FactSet’s Investor Network to integrate 40+ external managers across multiple asset types and strategies. They found particular value in functionality that allowed them to see all constituents and holdings for each manager and to properly measure exposure and risk. This visibility had been not possible with their previous market data provider.
In addition, they also were impressed by FactSet’s turnkey integration with Burgiss to support the firm’s large Private Equity allocation. This integration allowed the firm to view in-depth private company details that they never had access to before. The ability to access this level of private company data was the firm’s biggest surprise and one of the primary reasons they decided to move forward with FactSet.
After the trial was complete, the company decided to partner with FactSet and moved forward with the implementation process. Even during the global COVID-19 pandemic, the implementation process went smoothly with consistent communication and updates from the FactSet team. Through a close partnership with FactSet, the implementation and training process took a short eight months.
General adoption has been much higher in the short months following the deployment of FactSet than with the firm’s previous market data solutions. The investment and risk teams are actively using FactSet’s in-depth public and private company data for extensive portfolio analysis and multi-asset class risk modeling. They are also leveraging FactSet’s returns-based tool and are benefiting from having security and hedge fund research at their fingertips.
The risk team continues to partner and work closely with FactSet specialists to uncover new insights from the multi-asset class risk model and workflow efficiencies. They have been able to develop more detailed board and fund reports and are now able to easily include portfolio insights that were previously extremely cumbersome and time-consuming to generate. Moving forward, the company hopes to continue to partner closely with FactSet for more in-depth attribution reporting.