Global Institutional and HNWI Client Reporting


Our client was involved in an increasingly competitive market and asked us to review their client reporting process as part of a wider business process review. They saw the accessibility and quality of these reports playing a fundamental role in how their new investors perceived them as an investment company.

Investment Reports were produced using multiple data sources in a time consuming manually intensive process. 500 reports were produced, with 300 of these being monthly reports. 17 different categories of reports were made available to clients and 70 additional clients receive individually tailored reports. Equity, Balanced, Fixed Income and Derivative funds were included in the client portfolios.

This manual process was widely seen as inefficient and ultimately resulted in clients receiving non standard reports which, due to manual intervention, were susceptible to human error and inconsistency. The existing process also did not leverage any benefits of other STP processes in wider use within the organisation or the added value features of the vendor products available in the Client Reporting market space.

The following goals were set by the business community:

  • Reduce the number of differing reports currently distributed
  • Creation of ‘batch’ reports to avoid manual compilation
  • Consistent data classification – easier slicing and dicing of the portfolio structure
  • Automate calculations to reduce errors
  • Graphics delivered automatically and ready formatted
  • Commentary – added automatically to multiple reports
  • Benchmark characteristics automatically reported from multiple sources
  • Attribution automatically generated into reports
  • Branding – uniform branding, fonts, styles and colours across all client reports

Reformis Solution

Formal RFP selection process – A formal RFP process was held with leading Client Reporting vendors and a selection made. The vendor was chosen principally due to its maturity in the market at the time of the project, its flexibility in output formatting and its clear product separation between data source capture and the reporting module.

Revised Business Process – The failure of previous client reporting initiatives was due to the lack of formality in the capture and subsequent management of business information required for the end client reports. Too often, IT projects had failed in the organisation as the technological solution did not have a business process with which to support and manage it. Addressing this issue was key. Workflow management was imposed by assigning ownership of each stage of the supporting process to individual or teams. Quality and quantity checks were imposed and timescale contracts were defined for the completion of each stage in the process. Escalation procedures were identified in the case of extraneous business events. Workshops were held with the various business and IT sponsors of the data at each stage to ensure ownership and that the information was made readily available at the time specified.

Robust and timely client report publishing process – The client reporting information required was provided through an automated “Extract, Transform and Load” procedure that moved the raw enterprise data through a series of transformations that format, aggregate, analyse and publish the data.

Flexible Client Reports – Each client could have their own personalised information based on a menu of choices as seen below:

    • Fund Managers Summary
      • Executive Summary
      • Market Summary
      • Market Reviews by Geography and Asset class
      • Market Outlook by Geography and Asset Class
      • Market and Economic stats
      • Fund Fact Sheets
      • Corporate and Product Update
    • Portfolio Summary
      • Composition by Asset Class
      • Portfolio Changes
      • Estimated Annual Income
      • Realised Gain/Loss
    • Performance
      • Portfolio Vs Benchmark over time for overall portfolio and by fund
      • Attribution contribution analysis by Asset Class
    • Portfolio breakdown over last reporting period vs Benchmark:
      • End Market Value
      • By Country of Issuer
      • By Industry Sector Distribution
      • By Currency
      • By Maturity Banding
    • Portfolio Characteristics over last reporting period vs BM:
      • Average Quality
      • Modified Duration
  • Portfolio Detailed reporting
    • Holdings by Asset Class at Sector and Security level
    • Projected Income & Maturities
    • Account Activity
    • Realised Gain/Loss

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