Fund administrators are adapting to new models to capitalise on data services for fund managers and deal with the prickly issue of data ownership. Geoff Hodge, Chairman of Milestone Group, explains.
A lot has been made of the value of data for investment decisions and it is fund administrators who are often the primary record-keeper for most investment managers.
Administrators have not always had a great relationship with data. Firstly, the rise of automation exposed the problems administrators have had with the accuracy and consistency of data and, subsequently, this led to a lot of investment to improve data integrity.
There have also been issues over the ownership of data. Geoff Hodge, chairman of technology firm Milestone Group, says some administrators have seen data as a source of power and have tried to charge for access.