Pension Fund Performance and Risk Analytics Assessment

BACKGROUND Meradia’s client, a top-tier superannuation* fund manager in Queensland, Australia with approximately A$75 billion (USD $60 billion) AUM needed accurate, timely and consistent data fit for their analytic requirements. Historically, the operations team generated Performance from raw custodial files. While a substantial portion of the assets are externally managed, the futures, FX and cash portfolios – representing major exposures – are managed and traded internally for the purposes of tactical asset allocation, rebalancing, hedging and liquidity. With no expected improvement in sight, and facing imminent new competitive market pressures, the Chief Investment Officer retained Meradia to advise and... Read Full Article

BlackRock Aladdin Front Office Implementation Project Manager

BACKGROUND A global asset manager with $245 billion in AUM had multiple vendor and proprietary trading systems to support equity and fixed income trading globally. The firm struggled to get a timely, accurate, and holistic view of trading activity and decided to standardize by implementing a single instance of BlackRock’s Aladdin globally. Functional scope for the full Aladdin suite included trading for equity, fixed income, private placements, and derivatives, compliance, external trading platform connectivity, risk and analytics. Stakeholders and project interface included portfolio managers, traders, quants, and program management in North America, Europe, and Asia. Meradia was engaged to... Read Full Article

Performance and Attribution Capabilities Audit for a Global Asset Servicing Company

ENGAGEMENT Meradia’s client, a global asset servicing company, acquired a Central European asset servicing firm, which included a middle-office software vendor. The software vendor served both the newly acquired Central European asset servicing business and had independent clients. Meradia was engaged to identify and evaluate ways our client could leverage this newly acquired software asset. Options included: sell the software and technology arm; leverage the vendor platform as a new foundation to replace aging North American infrastructure; and, integrate this new platform into its overall product strategy, focusing its use on particular product segment. The vendor’s performance and attribution... Read Full Article

Asset Manager Client Reporting Requirements and Vendor Selection

BACKGROUND An investment management firm with ~$100 billion AUM wanted to ensure their end-state client reporting platform would support the investment management firm’s evolving business. They retained Meradia to lead a strategic initiative to evaluate the current client reporting environment, prioritize and document future state reporting requirements. Following this, Meradia led the client through a selection process and made recommendations for future solutions and operational processes. ANALYSIS The assessment phase of the project provided a foundation to ensure the client’s end-state client reporting platform is consistent with industry best-practice and would support the investment management firm’s evolving business. This... Read Full Article

Data Warehouse Implementation for Multi-boutique Investment Manager

BACKGROUND Meradia’s client, a $50 billion AUM multi-boutique investment manager, struggled to generate timely client or management reporting. Products included public funds, ETF’s, institutional, private client UMA, and retail UMA. Portfolio accounting, reconciliation, performance, and client reporting. These functions are outsourced to multiple vendors including Archer, SEI, Citi and CheckFree. Further challenging the client in this complex landscape was a lack of governance across the data landscape. The client struggled with taxonomy, legacy data, and poor documentation. They could not easily add new data sources or accurately report across all time periods and sources. The client’s Chief Technology and... Read Full Article

Performance Measurement and Attribution RFP and Selection for Global Asset Management Firm

BACKGROUND A top 10 global asset management firm’s performance measurement and attribution operation had grown over time into a disparate web of feeds, sources and platforms. Internal customers including the front-office and risk teams cobbled together different workflows often resulting in different results. Furthermore, performance calculation workflow had become excessively manually-intensive, creating risk on a variety levels including timeliness and accuracy. Precision and detail of performance reporting was falling behind that of market competitors and client retention was at risk. ANALYSIS Meradia coordinated and executed a series of interviews and workshops with all investment, risk and performance groups in... Read Full Article