SimCorp announced today the launch of a Self-Assessment Center for mutual fund companies to participate in a benchmarking study against their peers to evaluate their growth-readiness as a firm.
"Contrary to popular opinion, firms are ramping up for growth," comments David Kubersky, Managing Director of SimCorp North America. "Mutual fund companies are emerging from the recession and increasingly focused on preparing themselves for growth. We're seeing firms actively looking to expand their product offerings, increase AUM and enter new markets. We developed the Self-Assessment Center to help mutual fund firms evaluate themselves against their peers to see how ready they are for growth."
The SimCorp Mutual Fund Self-Assessment tool, located at growth.simcorp.com, evaluates how firms are approaching a range of issues related to growth, including:
-- Likelihood of introducing new services and offerings
-- Plan to enter new geographical markets over the next 12-24 months
-- Expectations regarding the effects of regulatory and legislative requirements
-- Capability of existing systems to support new funds or products
-- Level of automation in reporting capabilities
After completing the 10-minute self-assessment, participants will receive a personalized report with a detailed analysis on their firm's growth readiness at both an operational and organizational level. In addition, SimCorp will provide respondents with ideas for value creation.
In the wake of the financial crisis, SimCorp is launching the self-assessment as a tool for mutual fund firms in their current pursuit of growth. Mutual fund companies face an array of challenges in the "new normal." The mutual fund industry is increasingly competitive and investors are seeking out the best individual funds rather than remaining loyal to a fund family. As a result, fund companies must develop a strategy for growth in order to succeed in this new environment.
Mr. Kubersky noted, "The mutual fund industry is under pressure to demonstrate a commitment to improvement, transparency and consistency. We strongly encourage firms to take this opportunity to participate in the self-assessment because so much can be learned through benchmarking against one's peers. We believe firms will learn a great deal and find tremendous value in better understanding how the industry as a whole is shifting in preparation for growth. This is an important endeavor, and we hope firms will take advantage of the self-assessment tool."