A lack of accessible product data is the leading governance concern among asset managers, according to a recent study.
The research, jointly conducted by IT services consultancy Idea Group and financial consultancy Devlin Mambo, asked the five participating European asset managers to name their most pressing regulatory-related challenge.
Against a backdrop of increased product governance rules such as MiFID II, the need for comprehensive, universally available data provided in the right format was unanimously cited by the respondents as the number one issue.
Consequently, the study’s authors are calling for greater investment in global data structure governance.
“Accurate and accessible product information is more important than ever for our industry,” said Graeme Devlin, managing partner of Devlin Mambo. “[The research] leaves me in little doubt that this has been an area of underinvestment and, as such, it now needs to become a focus for the entire industry."
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